HDFC Bank Q1 net profit rises 33% to Rs 16,474 crore

Mumbai: HDFC Bank’s consolidated net profit grew 33.17 per cent to Rs 16,474.85 crore in the June 2024 quarter.

The bank had posted a post-tax net profit of Rs 12,370 crore on a consolidated basis in the year-ago period, it said in a regulatory filing.

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On a standalone level, its June quarter net profit rose to Rs 16,174 crore from Rs 11,951 crore in the year-ago period but was down from the preceding March quarter’s 16,511 crore.

The bank’s total income increased to Rs 83,701 crore from Rs 57,816 crore a year ago.

Its provisioning was reduced to Rs 2,602 crore from Rs 2,860 crore a year earlier.

The lender’s gross non-performing assets ratio inched up to 1.33 per cent from 1.24 per cent in March.

HDFC Bank’s overall capital adequacy was 19.33 per cent as of June 30, 2024.

PTI