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Err! HDFC Bank submits unsigned financial results, apologises, sends signed one

HDFC Bank has issued an apology for submission of unsigned financial results for Q1FY21, owing to "certain logistic and connectivity issues" amid COVID-19 pandemic

twitter-logoBusinessToday.In | August 28, 2020 | Updated 17:32 IST
Err! HDFC Bank submits unsigned financial results, apologises, sends signed one
HDFC Bank

HDFC Bank has issued an apology for submission of unsigned financial results for Q1FY21, owing to "certain logistic and connectivity issues" amid COVID-19 pandemic. Acknowledging the "inadvertence", the private sector lender told the exchanges on Thursday that it had later made the correction and submitted the signed document.

"Due to certain logistic and connectivity issues owing to the COVID-19 pandemic, kindly note that the Bank inadvertently submitted the unsigned financial results, instead of the duly signed, authenticated financial results. The Bank discovered this inadvertence only yesterday," HDFC Bank said.

The private sector bank also said that there are no changes in the financial results for the quarter already declared by it on July 18, 2020.

Meanwhile, HDFC Bank had reported nearly 20 per cent rise in standalone net profit at Rs 6,658.62 crore for June quarter of FY21 on account of healthy interest income driven by growth in advances. The country's largest private sector lender posted a net profit of Rs 5,568.16 crore in the given period of 2019-20.

Income of the bank surged to Rs 34,453.28 crore in June quarter from Rs 32,361.84 crore in the corresponding period of last year. "Net interest income (interest earned less interest expended) for the quarter ended June 30, 2020 grew by 17.8 per cent to Rs 15,665.4 crore from Rs 13,294.3 crore for the quarter ended June 30, 2019, driven by growth in advances of 20.9 per cent, and a growth in deposits of 24.6 per cent," the private lender had said.

Also read: HDFC Bank delayed submissions of loan data, credit bureau informs RBI

Also read: HDFC Bank 'in good hands': Aditya Puri on successor Sashidhar Jagdishan

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