Net interest income (NII) for the quarter, which is interest earned less interets expended, rose 23.9 per cent YoY to Rs 28,470 crore ompared with Rs 22,990 crore in the same quarter last year.
HDFC Bank reports strong Q3 results, beating ETNow poll. Net profit rose 34% YoY to Rs 16,372.54 crore. NII increased 24% YoY to Rs 28,471.34 crore but fell short of estimates. Provisions rose to Rs 4,217 crore. Core net interest margin at 3.4%. PPoP grew 24% YoY to Rs 23,647.30 crore. Balance sheet size for the December quarter at Rs 34.93 lakh crore. Total deposits rose 28% YoY to Rs 22.14 lakh crore.
HDFC Bank Q3 Profit Jumps 18% To Rs 8,758 Crore, Asset Quality Improves Sequentially moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
HDFC Bank Q3 Preview: Private lender HDFC Bank will flag-off the December quarter earnings for large banks when it announces its Q3FY21 results on Saturday, January 16. Amid improving economic activity, analysts expect the lender to report higher-than-industry average loan growth, implying continued market share gains. However, net profit could come under pressure due to higher slippages and lower fee income growth. Painting a grim picture, ICICI Securities forecasts a 17 per cent year-on-year (YoY) decline in the lender’s net profit at Rs 6,132.1 crore compared with Rs 7,416.5 crore net profit reported in the corresponding quarter of the previous fiscal (Q3FY20). Sequentially, the profit may contract 18 per cent from Rs 7,513.1 crore clocked in the September quarter of the current financial year (Q2FY21).