HDFC Bank's Q4 Profit Jumps 9.1% to ₹19,221 Crore as Assets Improve

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AuthorIshaan Verma|Published at:
HDFC Bank's Q4 Profit Jumps 9.1% to ₹19,221 Crore as Assets Improve
Overview

HDFC Bank reported a 9.1% year-on-year rise in net profit for its fourth quarter, reaching ₹19,221 crore. Net Interest Income (NII) grew by a more subdued 3.2%. The bank also saw an improvement in its gross non-performing assets (GNPA) ratio, which fell to 1.15% from 1.33% a year ago. Provisions were also reduced.

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HDFC Bank reported total income of ₹89,809 crore for the reporting quarter, a slight increase from ₹89,488 crore in the comparable year-ago period. Total expenditure saw a reduction, declining to ₹62,006 crore from ₹62,951 crore.

Asset Quality Improves

The bank's gross non-performing assets (GNPA) ratio improved to 1.15% by the end of the quarter. This is down from 1.24% reported at the close of the preceding December quarter and significantly lower than the 1.33% recorded in the year-ago period.

Provisions Decrease

Overall provisions were also reduced, falling to ₹2,610 crore from ₹3,193 crore reported in the March quarter of the previous fiscal year. This reduction in provisioning reflects strengthened asset quality and lower anticipated credit losses.

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