HDFC Bank first quarter net profit jumps 20 per cent, NPA rises due to farm loan waiver

New Delhi, News Nation Bureau | Updated : 24 July 2017, 01:39 PM
HDFC Bank - File Photo
HDFC Bank - File Photo

Indian banking major HDFC Bank on Monday reported a 20.22 per cent surge in its first quarter net profit to Rs 3,893.84 crore, compared to the same period last year.

The bank had earned a profit of Rs 3,238.91 crore in the April-June quarter of last fiscal. Total income rose to Rs 22,185.38 crore during the quarter under review, up 14.81 per cent against Rs 19,322.63 crore in the same period last year, HDFC Bank said in a BSE filing.

As of June 30, HDFC Bank's gross non-performing assets (NPAs) increased marginally to 1.24 per cent of gross advances as against 1.04 per cent at the end of first quarter of the last fiscal.

Net non-performing assets stood at 0.44 per cent of net advances as on June 30 as against 0.32 per cent reported in the first quarter of the previous fiscal. Shares of HDFC Bank were trading 0.80 per cent higher at Rs 1,717 in afternoon trade on BSE. 

(With Inputs from PTI)

First Published: Monday, July 24, 2017 01:25 PM

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