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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EARNINGS ALERT: HDFC Bank’s net profit beats street estimates in Q3. Here’s a quick review. pic.twitter.com/SmHmi3PgHC
— CNBC-TV18 News (@CNBCTV18News) January 24, 2017
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.