HDFC Bank Q1 net profit rises 33 pc to Rs 16,474 cr

Mumbai, Jul 20 (PTI) HDFC Bank’s consolidated net profit grew 33.17 per cent to Rs 16,474.85 crore in the June 2024 quarter.

The bank had posted a post-tax net profit of Rs 12,370 crore on a consolidated basis in the year-ago period, it said in a regulatory filing.

On a standalone level, its June quarter net profit rose to Rs 16,174 crore from Rs 11,951 crore in the year-ago period but was down from the preceding March quarter’s 16,511 crore.

The bank’s total income increased to Rs 83,701 crore from Rs 57,816 crore a year ago.

Its provisioning was reduced to Rs 2,602 crore from Rs 2,860 crore a year earlier.

The lender’s gross non-performing assets ratio inched up to 1.33 per cent from 1.24 per cent in March.

HDFC Bank’s overall capital adequacy was 19.33 per cent as of June 30, 2024.