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HDFC Bank reports 18% rise in standalone profit

15/01/2022 at 2:32 PM

Mumbai, Jan 15: Private sector lender HDFC Bank on Saturday reported an 18.1% rise in its standalone net profit at Rs 10,342.20 crore for the third quarter ended December 2021.

The bank reported net profit of Rs 8,758 crore in the year-ago period.

Net interest income, the difference between interest earned and interest expended, climbed to Rs 18,444 crore in Q3FY22, compared to Rs 16,317.61 crore in year-ago period.

Net interest income grew by 13%.

The bank’s provisions fell 12% to Rs 2,994 crore as compared to Rs 3,414 crore in December 2020.

HDFC Bank’s gross NPAs were at 1.26% of gross advances as on December 31, 2021, as against 1.35% as on September 30, 2021.

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