HDFC Bank Q2 net profit jumps 20% yoy to Rs 3455 crore; Net NPA at 0.30%

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New Delhi | Updated: October 25, 2016 1:11:52 PM

HDFC Bank reported 20.42 per cent rise in net profit at Rs 3455.33 crore for the quarter ended September 30, 2016 against Rs 2,869.45 crore in the corresponding quarter a year ago.

HDFC Bank Q2 resultHDFC Bank reported 20.42 per cent rise in net profit at Rs 3455.33 crore for the quarter ended September 30, 2016 against Rs 2,869.45 crore in the corresponding quarter a year ago.

HDFC Bank reported 20.42 per cent rise in net profit at Rs 3455.33 crore for the quarter ended September 30, 2016 against Rs 2,869.45 crore in the corresponding quarter a year ago. Net interest margin of the bank increased by 19.65 per cent year-on-year to Rs 7993.59 crore for the quarter under review. It had reported a net interest margin of 6680.90 crore in the corresponding quarter a year ago.

Operating expenses for the quarter ended September 30, 2016 stood at Rs 4870 crore, up 16.2 per cent, against Rs 4189.80 crore in the corresponding quarter last year. The cost-to-income ratio for the quarter was at 44.70 per cent against 45.40 per cent for the corresponding quarter ended September 30, 2015.

Asset quality of the bank improved as gross non-performing assets (NPAs) stood 1.02 per cent of gross advances as on September 30, 2016 as against 1.04 per cent in the sequential quarter ended June 30, 2016. Net NPAs also eased to 0.30 per cent of net advances as on September 30, 2016. NNPA figures were at 0.32 per cent of net advances for the quarter ended June 30, 2016.

For the half year ended September 30, 2016, HDFC Bank posted 54 per cent fall in net profit at Rs 5,565.17 crore against Rs 12,296.23 crore in the same quarter last fiscal.

Shares of the lender were trading 0.78 per cent down at Rs 1,255.50 at 1.04 pm.

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