HDFC Bank Q2 net profit up 17.6%
During the same quarter in the previous year, the bank had earned a net profit of Rs 7,513.10 crore on a standalone basis.
HDFC Bank has posted a 17.6 percent rise in its consolidated net profit at Rs 9,096 crore for the second quarter ended September 2021. In the corresponding quarter in the year ago period, the bank had posted a consolidated net profit of Rs 7,703 crore. The lender said in a statement that during the quarter under the review, total consolidated income increased from Rs 38,438.37 crore to Rs 41,436 crore in the July-September quarter.
During the same quarter in the previous year, the bank had earned a net profit of Rs 7,513.10 crore on a standalone basis.
The standalone total income increased to Rs 38,754.16 crore in the second quarter of FY 2022 from Rs 36,069.42 crore in the same quarter the previous year.
Total NPAs at 1.2%
For the current quarter, provisions and contingencies increased to Rs 3, 924.70 crore as against Rs 3,703.50 crore in the same quarter, the previous year. The total provisions for the quarter included Rs 1,200 crore worth contingent provisions, the bank said. At the end of the June quarter, provisions and contingencies stood at Rs 4,830.84 crore.
As a percentage of gross advances, gross non-performing assets came in at 1.35 percent as compared to 1.47 percent in the quarter ending June, while it was 1.37 percent in the year ago quarter. For the September quarter, total NPAs came in at 1.2%, excluding NPA in agriculture segment.
Total advances increased by 15.5 percent to Rs 11,98,837 crore, while deposits rose by 14.4% to Rs 14,06,343 crore.