HDFC Bank reports a significant increase in Q4 net profit, reaching Rs 17,622 crore
HDFC Bank reported a 2.11% growth in net profit to Rs 17,622.38 crore for the March 2024 quarter. On a standalone basis, the bank's net profit was Rs 16,511.85 crore. With the merger of HDFC, core net interest income grew to Rs 29,080 crore. Gross non-performing assets ratio stood at 1.24%.
- Country:
- India
HDFC Bank on Saturday reported a 2.11 per cent growth in consolidated net profit to Rs 17,622.38 crore for the March 2024 quarter against Rs 17,257.87 crore in the preceding December quarter.
On a standalone basis, the country's largest private sector lender reported a net profit of Rs 16,511.85 crore compared to Rs 16,372.54 crore in the December quarter.
In July 2023, the bank merged its home loan-focused parent HDFC into itself.
Its core net interest income grew to Rs 29,080 crore for the reporting quarter, while the other income grew to Rs 18,170 crore.
The lender has reported its core net interest margin of 3.44 per cent on total assets.
The gross non-performing assets ratio came at 1.24 per cent.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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