HDFC Bank Q3 profit rises 34% to Rs 16,373 cr

New Delhi: Largest private sector lender HDFC Bank on Tuesday reported a 34 per cent jump in its standalone net profit to Rs 16,373 crore for the third quarter ended December 2023.

The bank had earned a net profit of Rs 12,259 crore in the corresponding quarter of the previous fiscal year.

Its total income on a standalone basis rose to Rs 81,720 crore in the October-December quarter of FY24 against Rs 51,208 crore in the year-ago period, HDFC Bank said in a regulatory filing.

On a consolidated basis, the bank's profit increased 39 per cent to Rs 17,718 crore from Rs 12,735 crore.

The consolidated total income rose to Rs 1,15,015 crore from Rs 54,123 crore at the end of the same quarter the previous year.

On the asset quality side, the bank witnessed a marginal increase in gross non-performing assets (NPAs) to 1.26 per cent of the gross loans by the end of December 2023 from 1.23 per cent a year ago.

However, its net NPAs came down to 0.31 per cent from 0.33 per cent at the end of the third quarter of the previous fiscal.