HDFC Bank Q3 profit jumps 18% to Rs 10,342 crore

The country's largest private sector lender HDFC Bank on Saturday reported an 18.1 per cent rise in its standalone net profit at Rs 10,342.20 crore for the third quarter ended December 2021.

The bank had registered a net profit of Rs 8,758.29 crore in the corresponding quarter of the previous fiscal year.

Total income on a standalone basis rose to Rs 40,651.60 crore in the October-December quarter of FY2021-22, as against Rs 37,522.92 crore in the same period of the previous financial year, HDFC Bank said in a regulatory filing.

However, there was a rise in bank's bad loan proportion with gross non-performing assets (NPAs) rising to 1.26 per cent of gross advances as of December 30, 2021, as against 0.81 per cent in the year-ago period. However, it was down sequentially from 1.35 per cent by the end of September 2021.

Net NPAs or bad loans too rose to 0.37 per cent year on year from 0.09 per cent, but down from September 2021 quarter's 0.40 per cent sequentially.

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