HDFC Bank net profit up 18% to Rs 10,342 crore in Q3 FY22

New Delhi: Country’s largest private sector lender HDFC Bank on Saturday reported an 18.1 per cent rise in its standalone net profit at Rs 10,342.20 crore for the third quarter ended December 2021.

The bank had reported a net profit of Rs 8,758.29 crore in the corresponding quarter of the previous financial year.

HDFC Bank said in a regulatory filing that total income on a standalone basis increased to Rs 40,651.60 crore in the October-December quarter of FY 2021-22 from Rs 37,522.92 crore in the same period of the previous fiscal.

However, there was an increase in the bank’s bad loan ratio with gross non-performing assets (NPAs) to 1.26 per cent of gross advances as of December 30, 2021, as against 0.81 per cent in the year-ago period. However, it was sequentially down from 1.35 per cent by the end of September 2021. Read also: January 16 to be observed as National Start-up Day, announced PM Narendra Modi

Net NPAs or bad loans also rose to 0.37 per cent from 0.09 per cent, but down 0.40 per cent sequentially in the September 2021 quarter. Read also: Ashish Kacholia Portfolio: Ace Markets investor buys stake in 3 multibagger stocks

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