ANI
15 Jan 2022, 15:33 GMT+10
Mumbai [India], January 15 (ANI): HDFC Bank said on Saturday its net profit for the third quarter of the current financial year rose to Rs 10,342.2 crore, posting an increase of 18.1 per cent over the corresponding quarter of last year.
Profit before tax for the quarter ended December 31, 2021 at Rs 13,782 crore grew by 17.1 per cent over corresponding quarter of the previous year. After providing Rs 3,439.8 crore for taxation, the Bank earned a net profit of Rs 10,342.2 crore, an increase of 18.1 per cent over the quarter ended December 31, 2020, HDFC Bank said in statement.
HDFC Bank net revenues, net interest income plus other income, increased by 12.1 per cent to Rs 26,627 crore for the quarter ended December 31, 2021 from Rs 23,760.8 crore for the corresponding quarter of previous year.
The Bank's net interest income grew by 13 per cent to Rs 18,443.5 crore for the quarter under review from Rs 16,317 crore recorded in the corresponding quarter of previous year.
Other income rose to Rs 8,183.6 crore for October-December 2021 quarter, which is 9.9 per cent higher when compared with Rs 7,443.2 crore recorded during the same period of 2020.
The Bank's consolidated net profit for April-December 2021 period rose to Rs 27,610 crore, which is 18 per cent higher when compared with corresponding period of previous year.
HDFC Bank's asset quality has improved. The Bank's gross non-performing assets declined to 1.26 per cent of gross advances as on December 31, 2021 as against 1.35 per cent as on September 30, 2021 and 1.38 per cent as on December 31, 2020.
The Bank's net non-performing assets stood at 0.37 per cent of net advances as on December 31, 2021. (ANI)Get a daily dose of India Gazette news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to India Gazette.
More InformationSEATTLE, Washington: Boeing saw a significant increase in aircraft deliveries in February, reporting 44 planes delivered compared to...
DALLAS, Texas: Southwest Airlines will start charging passengers for checked bags, ending a long-standing policy that set it apart...
NEW YORK, New York - U.S. stocks rallied hard on Friday, boosted by strong rises around the world. Investors shrugged off a decline...
MILAN, Italy: Maserati has scrapped plans for an electric version of its MC20 sports car, citing low expected demand for the high-performance...
BERLIN, Germany: Volkswagen is set to cut 1,600 jobs at its Cariad software division by the end of the year, affecting nearly 30 percent...
The principal terminal, Terminal 1, at Israel's largest airport will reopen at the end of this month, having largely been closed since...
NEW DELHI, India: The United States is pressing India to lower tariffs and increase defense purchases to secure a stronger bilateral...
Bengaluru (Karnataka) [India], March 15 (ANI): The Directorate of Revenue Intelligence (DRI) has filed objections to the bail application...
Puri (Odisha) [India], March 15 (ANI): Japanese tourists visiting Odisha celebrated the festival of Holi in the city of Puri and shared...
New Delhi [India], March 15 (ANI): Union Minister for Railways Ashwini Vaishnaw on Saturday inspected the work being done to develop...
New Delhi [India], March 15 (ANI): Farmers have high hopes from the new Delhi government, Chief Minister Rekha Gupta said on Saturday,...
Hyderabad (Telangana) [India], March 15 (ANI): Union Minister and Telangana BJP chief G Kishan Reddy inspected the ongoing redevelopment...