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“We wish to inform you that a meeting of the Board of Directors of HDFC Bank Limited (“the Bank”) is scheduled to be held on Wednesday, January 22, 2025 to inter-alia consider and approve the unaudited standalone and consolidated financial results of the Bank for the quarter and nine months ending December 31, 2024,” the lender said in a filing.
HDFC Q2 Results
HDFC Bank reported a net profit of ₹16,820 crore for Q2 FY25, marking a 5% year-on-year growth. This figure surpassed the average estimate of ₹16,570 crore anticipated by seven brokerages, underscoring the bank’s strong performance despite economic headwinds.
Its net interest income rose 10% to ₹30,114 crore, while gross NPAs slightly increased to 1.36%. The bank’s asset quality remains stable, with provisions amounting to ₹2,700.5 crore.
The bank’s provisions for the quarter amounted to ₹2,700.5 crore, down from ₹2,903.8 crore YoY but marginally higher than the ₹2,602.06 crore set aside in the previous quarter.
The steady rise in net profit, robust NII growth, and stable asset quality reaffirmed HDFC Bank’s position as a leader in the Indian banking sector despite challenges.
Parag Rao, Country Head-Payments, Liability Products, Consumer Finance & Marketing at HDFC Bank had expressed optimism about the growth potential of the bank’s credit card segment even as the unsecured lending segment is slowing down.
Shares of HDFC Bank finished at ₹1,862 on Monday, 0.5% lower than the previous day’s close. Its shares have gained nearly 14% over the past year.
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