HDFC Bank posts 35 pc rise in YoY profit; 2 pc dip from last quarter of FY24
HDFC bank posted a standalone net profit of Rs 16,175 crore, climbing 35.3 per cent on a Year-On-Year (YoY) basis in the first quarter of Financial year (FY) 2025, as per the financial statement filed by the company with the stock exchanges on Saturday.
ANI
Jul 20, 2024 16:45 IST
New Delhi [India], July 20 (ANI): Banking giant HDFC bank posted a standalone net profit of Rs 16,175 crore, climbing 35.3 per cent on a Year-On-Year (YoY) basis in the first quarter of Financial year (FY) 2025, as per the financial statement filed by the company with the stock exchanges on Saturday.
The lender in the same period last year had reported a net profit of Rs 11952 crore.
However, the net profit in the first quarter of FY 25 has dropped 2 per cent to Rs 16,511.85 crore, as compared to Rs 16512 crore in the fourth quarter of financial year 2024.
The bank's net interest income (NII) rose to 2.6 per cent quarter-on-quarter to Rs 29,837 crore. Net Interest Income (NII) is the difference between the revenue generated from a bank's interest-bearing assets and expenses incurred while paying its interest-bearing liabilities. The bank had reported Rs 29,078 crore in the March period.
The net non-performing asset (NPA) of the bank upped 17.5 per cent sequentially. It stood at Rs 9508.4 crore in the first quarter of FY 25 as compared to Rs 8.091.7 crore in the fourth quarter of last year.
The gross NPA of the bank also rose by 6 per cent quarter on quarter to Rs 33,026 crore in the June quarter, as compared to Rs 31,173 crore in the preceding March quarter of FY 2024.
The bank had reported a 37 per cent YoY jump in the net profit at Rs 16,511 crore in the March quarter. The net interest income had grown by 29 per cent YoY to Rs 29,077 crore.
In the last trading session on Friday this week, the HDFC Banks stocks ended in red territory as they lasted 0.46 per cent lower at Rs 1607 apiece on the National Stock Exchange (NSE).
The bank's stocks have seen a decline of around 1.4 per cent over the past five trading sessions. However the the stocks of the bank have performed well rising 12.45 per cent in the last six months. (ANI)
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