On a standalone basis, HDFC Bank reported a 19.8 per cent increase in its net profit. (file)
Mumbai:
HDFC Bank today reported a 20.60 per cent rise in its consolidated net profit at Rs 12,594.47 crore for the March 2023 quarter.
The country’s largest private sector lender had reported a net profit of Rs 10,443.01 crore in the January-March period a year ago and had posted a profit of Rs 12,698.32 crore in the previous December quarter. For FY23, the bank reported a net profit of Rs 45,997.11 crore as against Rs 38,052.75 crore in FY22.
On a standalone basis, the bank reported a 19.81 per cent increase in its net profit at Rs 12,047.45 crore. Its total income on a standalone basis rose to Rs 53,850 crore as compared to Rs 41,086 crore in the year-ago period. The overall provision for loan losses and other items stood at Rs 2,685.37 crore for the quarter under review, as against Rs 3,312.35 crore a year ago.
The gross non-performing assets ratio rose to 1.17 per cent a year ago and 1.23 per cent in December 2022 from 1.12 per cent at the end of March.
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