HDFC Bank Q4 Results: The bank reported 20.6 percent year-on-year growth in its consolidated net profit for the quarter ended March 31, 2023, to Rs 12,594 crore
Private sector lender HDFC Bank and IT major Infosys, which together hold nearly 18 per cent weightage in the Nifty index, retreated up to 9 per cent after lower-than-expected financial results for the quarter ended March 31.
HDFC Bank Q4 takeaways: Asset quality steady, arm HDB’s health improves
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Synopsis
The bank continued to deliver strong operating performance in the March quarter as pre-provision operating profit surged 20 per cent on-year against expectations of around 13-14 per cent growth.
HDFC Bank decided against paying a final dividend to shareholders as a prudent policy choice in wake of the renewed uncertainties caused by the ongoing second Covid-19 wave in the country.
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MUMBAI: In a quarter where earnings of banks are expected to be hit by the recognition of Covid-related stress following the Supreme Court’s order, HDFC Bank today reported steady earnings for the quarter ended March.