The country’s largest private bank released Q1 Result, profit fell to Rs 16175 crore
Private sector giant HDFC Bank has released its first quarter results. The bank’s net profit was Rs 16175 crore. It was Rs 11951 crore in the same quarter a year ago and Rs 16511 crore in the March quarter. Net interest income was Rs 29837 crore. Profit has declined by 2% on a quarterly basis while interest income has increased by 2.6%.
NPA rises, return on assets also decreases
Talking about asset quality, gross NPA has increased. It was 1.33% in the June quarter while it was 1.24% in the March quarter and 1.17% in the same quarter a year ago. Talking about net NPA, it was 0.39% in the June quarter. It was 0.33% in the March quarter and 0.30% in the same quarter a year ago. Return on assets i.e. ROA was 0.47%. It was 0.49% in the March quarter. It has also declined on a quarterly basis.
Loan book and deposits
HDFC Bank’s deposits rose 24.4% year-on-year to Rs 2379084 crore. It was Rs 2379786 crore in the March quarter. Talking about the loan book, it was Rs 2463520 crore which was Rs 2484861 crore in the March quarter. The total income of the bank increased to Rs 83,701 crore in the June quarter, which was Rs 57,816 crore in the same quarter of the last financial year.
