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22 April, 2021 08:57 IST
HDFC Bank gains over 1% after strong Q3 earnings
Source: IRIS | 18 Jan, 2021, 04.46PM
Rating: NAN / 5 stars.
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 Share price of HDFC Bank gained over 1% on Monday after the bank reported strong Q3 earnings on Saturday.

The private sector lender reported an 18% rise in standalone net profit for the quarter ended December 31 of FY21 on a year-on-year basis. The bank's net profit for the third quarter of FY21 stood at Rs 87,583 million.

Net interest income for the quarter ended December 31, 2020 grew by 15.1% to Rs 1,63,176 million from Rs 1,41,729 million in the same period last year, driven by advances growth of 15.6%, and a core net interest margin for the quarter of 4.2%.

Total deposits as of Dec. 31, 2020 were Rs 12,711,240 million, an increase of 19.1% over Dec. 31, 2019.

"The Bank's persistent focus on deposits supported in the maintenance of a healthy liquidity coverage ratio at 146%, well above the regulatory requirement," the bank said.

The Gross and Net non-performing assets were at 0.81% of gross advances and 0.09% of net advances as on Dec. 31, 2020 respectively.

Shares of HDFC Bank are trading at Rs 1,486.05, up Rs 19.7, or 1.34% at the Bombay Stock Exchange (BSE) on Monday at 3:10 p.m.

The scrip has touched an intra-day high of Rs 1,503 and low of Rs 1,467.95. The total volume of shares traded at the BSE is 765,263.In the earlier session, the shares declined 0.12%, or Rs 1.7, at Rs 1,466.35.

Currently, the stock is trading down 0.53% from its 52-week high of Rs 1,503 and above 101.12% over the 52-week low of Rs 738.90.



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