The standalone net profit of the country’s largest private bank HDFC in the July-September quarter increased by 5% year-on-year to Rs 16,821 crore. It was Rs 15,976 crore in the same quarter last year.
However, the bank’s net profit has increased by 4% quarterly. In the previous quarter (Q1FY25), the bank’s profit was Rs 16,174 crore. HDFC released the results for the second quarter of Q2FY25, i.e., the financial year 2024-25, on Saturday (October 19).
At the same time, the total income of the bank in the July-September quarter increased by 9.04% year-on-year to Rs 85,499 crore, which was Rs 78,406 crore in the same quarter last year. At the same time, the bank’s income has increased by 2.14% every quarter. It was Rs 83,701 crore in the first quarter.
The stock gave a 10.02% return in six months.
On Friday, HDFC Bank’s stock closed 0.70% higher at Rs 1,684, bringing the company’s market cap to Rs 12.83 lakh crore. In the last six months, the bank’s stock has returned 10% to its investors, and it has increased by 11.21% in one year.
HDFC bank’s net interest income increased by 10%
In the September quarter, HDFC Bank’s net interest income (NII) i.e. net interest income increased by 10% on an annual (YoY) basis to Rs 30,114 crore. At the same time, the bank’s net interest income has increased by 1% on a quarterly basis. In the first quarter, it was Rs 29,837 crore.
HDFC Bank has more than 9,092 branches in the country
HDFC Bank provides banking and financial services. Its founder is Hasmukhbhai Parekh, who founded it in 1994. The bank’s headquarters are in Mumbai. Shashidhar Jagdishan is the managing director and chief executive officer (CEO). HDFC Bank has more than 9,092 branches and more than 20,993 ATMs in the country.
