HDFC Bank Q3 Results: Net Profit Rises 18%, Meets Estimates

HDFC Bank Ltd.’s net profit rose in the third quarter on higher total income and lower provision.

HDB Financial Services

HDFC Bank’s non-banking finance arm, HDB Financial Services Ltd., reported a net profit of Rs 304 crore in the third quarter compared with a loss of Rs 146 crore a year ago. Its net revenue rose 15% from a year ago to Rs 1,982 crore.

Stage-3 loans, or those which were overdue by more than 90 days, comprised 6.05% of the total loan book. HDB Financial’s loan book stood at Rs 60,478 crore as on Dec. 31 compared with Rs 60,068 crore a year ago.

Shares of HDFC Bank closed 1.03% higher on Friday against a flat Nifty 50.

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WRITTEN BY

Vishwanath Nair

Vishwanath is Editor- Banking at NDTV Profit. He started working as a busin... more

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