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22 April, 2021 07:54 IST
HDFC Bank Q3 net profit rises 18% to Rs 87,583 mn
Source: IRIS | 19 Jan, 2021, 05.06PM
Rating: NAN / 5 stars.
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HDFC Bank, a leading private sector lender reported a 18.1% rise in standalone net profit for the quarter ended Dec. 31, 2020. The company has earned Rs. 87,583 million in the quarter, compared with Rs 74,164.8 million for the same period last year.

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.

Provisions and contingencies for the quarter were Rs 34,141 million as compared to Rs 30,436 million in the corresponding quarter a year ago.

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 the bank gained Rs 20.20, or 1.36%, to settle  at  Rs 1,503.40.  The total volume of shares traded  was 1,511 at  the BSE (Tuesday).

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