Total income on a standalone basis rose to ₹51,207.61 crore in the October-December quarter of FY23. File
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The country’s largest private sector lender HDFC Bank on Saturday reported an 18.5% increase in its standalone net profit at ₹12,259.5 crore for the third quarter ended December 2022.
The bank had earned a net profit of ₹10,342.2 crore in the corresponding quarter of the previous fiscal year.
Total income on a standalone basis rose to ₹51,207.61 crore in the October-December quarter of FY23, as against ₹40,651.60 crore in the same period of the previous financial year, HDFC Bank said in a regulatory filing.
On the asset quality side, bank’s gross non-performing assets (NPAs) remained flat at 1.23% of gross advances as of December 30, 2022.
Net NPAs too was flat at 0.33% as compared to 0.37% at the end of December 2021.
Provisions and contingencies for the quarter ended December 31, 2022, were ₹2,806.4 crore as against ₹2,994 crore for the year-ago quarter, it said.
Net interest income (interest earned less interest expended) for the quarter ended December 31, 2022, grew by 24.6% to ₹22,987.8 crore from ₹18.443.5 crore for the quarter ended December 31, 2021, it said.
Core net interest margin was at 4.1% on total assets, and 4.3% based on interest earning assets.
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