HDFC Bank Q2 Profit Climbs 4.6% as Net Interest Income Grows
The lender reported higher quarterly profit and interest income, while its gross and net non-performing asset ratios eased from June.
Key takeaways
- Net profit rose 4.6% year over year to Rs 19,510 crore.
- Net interest income increased 9.7% to Rs 34,620 crore.
- The gross NPA ratio eased to 1.11% from 1.17% in June.
HDFC Bank reported net profit of Rs 19,510 crore for the second quarter of FY27, up 4.6% from a year earlier. Net interest income rose 9.7% to Rs 34,620 crore in the quarter ended September 30.
Net interest margin was 3.16% on total assets and 3.32% on interest-earning assets. The bank reported a total balance sheet size of Rs 45.78 lakh crore at September 30, compared with Rs 40.03 lakh crore a year earlier.
Asset quality improved from the June quarter. Gross non-performing assets were Rs 35,810 crore, slightly below Rs 35,846 crore in June, while net non-performing assets fell to Rs 11,851 crore from Rs 12,357 crore.
The gross NPA ratio declined to 1.11% from 1.17%, and the net NPA ratio eased to 0.37% from 0.41%. HDFC Bank said in a regulatory filing that the Street had estimated a gross NPA ratio of 1.17% for the quarter.
Average deposits rose 16.8% year over year to Rs 31.66 lakh crore. Average current account and savings account deposits increased 10.7% to Rs 9.71 lakh crore.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
