HDFC Bank's Q2 results: Net profit rises to over ₹16,800cr
HDFC Bank has reported a 5% year-on-year (YoY) increase in its net profit for the second quarter of FY25, reaching ₹16,821 crore. The figure surpasses the average estimate of ₹16,570 crore as projected by seven brokerages. Despite the ongoing economic challenges, India's largest private-sector bank has shown robust performance for Q2.
Net interest income sees significant growth
The bank's net interest income (NII) also witnessed a significant growth, increasing 10% YoY to ₹30,114 crore. However, the figure was slightly lower than the brokerage poll's estimate of ₹30,306 crore for Q2. The core net interest margin was at 3.46% on total assets and 3.65% on interest-earning assets, according to HDFC Bank's stock exchange filing.
Slight increase in non-performing assets
HDFC Bank's gross non-performing assets (GNPA) rose to 1.36% at the end of September, up from 1.33% at the end of the last quarter. The bank's net NPAs also rose marginally from 0.39% to 0.41%. In absolute terms, gross NPAs rose to ₹34,251 crore from ₹33,026 crore while net NPAs rose to ₹10,309 crore from ₹9,508 crore on-quarter.
HDFC Bank's provisions for Q2 rise by 4%
Provisions made by HDFC Bank for the second quarter stood at ₹2,701 crore, a 4% increase from ₹2,602 crore on-quarter. The bank's shares closed at ₹1,681.15 on October 18, marking a slight 0.47% increase on BSE.
