1. HDFC Bank Q3FY17 net up 15% at Rs 3,865 crore, beating estimates

HDFC Bank Q3FY17 net up 15% at Rs 3,865 crore, beating estimates

HDFC Bank said on Tuesday that its fiscal third quarter net profit was at Rs 3,865 crore, rising about 15% and beating most analyst estimates.

By: | Published: January 24, 2017 12:58 PM
A Reuters poll had forecast HDFC Bank’s third quarter net profit at Rs 3,788 crore A Reuters poll had forecast HDFC Bank’s third quarter net profit at Rs 3,788 crore

HDFC Bank said on Tuesday that its fiscal third quarter net profit was at Rs 3,865 crore, rising about 15% and beating most analyst estimates.

A Reuters poll had forecast HDFC Bank’s third quarter net profit at Rs 3,788 crore.

India’s largest private sector bank said its net interest income for Oct-Dec quarter was at Rs 8,309 crore.

HDFC Bank earned Rs 17,606 crore in interest income in the quarter, up from Rs 15,411 crore in the same period a year ago.

Its asset quality was under a slight pressure in the quarter, with provision for bad loans rising to Rs 716 crore from Rs 654 crore in Oct-Dec of the previous year.

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Gross NPAs also rose to 1.05% in Oct-Dec from 1.02% in Jul-Sep, while net NPAs rose to 0.32% from 0.3% in the previous quarter.

The NIM (net interest margin) was at 4.1%.

HDFC Bank shares were trading up 1.01% at Rs 1,257.25 amid firm broader markets.

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