HDFC, the country's largest private bank, has made strong earnings in the second quarter of the current financial year. The profit of HDFC Bank in the September quarter was Rs 15,796 crore. During this period, there has been tremendous growth in the total income of the bank. During the September quarter, the total income of the bank increased by 70 percent to Rs 78,406 crore. Talking about net interest income, here also a strong jump of 30 percent has been recorded.
During the September quarter, the bank has recovered Rs 27,385 crore from people's interest. Talking about provisions, it has been Rs 2904 crore in the September quarter. The operating profit of the bank has also increased by 30.5 percent to Rs 22,694 crore in the September quarter. Talking about total loan, it has also increased by 1.34 percent in the September quarter.
Shares closed on decline
Shares of HDFC Bank closed down by 0.24 percent in Monday's trading session. Actually the bank's results have come after the market was closed. Experts believe that the impact of this result may be visible on its shares tomorrow. Experts believe that after the excellent results, HDFC Bank shares may see a rise in Tuesday's trading session. In fact, in the last one month, HDFC Bank shares have fallen by about 6 percent. Now after the excellent results of the bank, it is expected that investors may get a chance to earn profit.
NPA increased
HDFC Bank's NPA has increased amidst excellent results. On a quarterly basis, the NPA of the country's largest private bank has increased from 0.30 percent to 0.35 percent. During this period, the provisioning of HDFC Bank has also increased from Rs 2,860 crore to Rs 2,904 crore. Just a few months ago, HDFC was merged into HDFC Bank. After which speculations were being made that the condition of the bank would become even better. HDFC Bank is the largest private bank in the country in terms of market valuation.
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