New Delhi, 17 July (Hindustan Times). HDFC Bank, the largest private sector lender, has announced the results of the first quarter (April-June) of the current financial year 2023-24. The bank’s profit increased by 29.13 percent to Rs 12,370.38 crore in the June quarter. Due to this, the bank had a net profit of Rs 9,579.11 crore in the same quarter of the previous financial year.
In the information given to the stock market on Monday, the bank said that in the first quarter of the current financial year 2023-24, its profit has increased by 29.13 percent to reach Rs 12,370.38 crore. Due to this, the bank had a profit of Rs 9,579.11 crore in the same quarter of the previous financial year 2022-23. However, the bank’s net profit stood at Rs 12,594.47 crore in the January-March quarter of the last financial year.
HDFC’s total income rose to Rs 61,021 crore in the first quarter of the current financial year 2023-24, from Rs 44,202 crore in the same quarter of the previous financial year. During this period, the bank’s operating expenses increased to Rs 15,177 crore, from Rs 11,355 crore in the same quarter of the previous financial year.
HDFC said in a statement issued that the bank’s gross non-performing assets (NPAs) stood at 1.17 per cent as of June 30, 2023, compared to 1.12 per cent at the end of the March quarter and 1.28 per cent in the year-ago quarter. HDFC Bank has recently merged its housing finance parent company HDFC Bank with itself.
