HDFC Bank’s second quarter results: net profit increased 5.3% to 16,821 billion rupees, NII grew 10% annually; asset quality deteriorated

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HDFC Bank on Saturday reported a slight rise of 5% in standalone profit. $Net profit for the second quarter ended September 2024 was Rs 16,821 crore. $15,976 crore in the same period last year.

Total revenue increases to $85,500 Crore this Quarter $78,406 crore in the same period last year, HDFC Bank said in a regulatory filing.

The bank reported interest income of $74,017 Crore during the current quarter $67,698 crore in the same period last year.

Net interest income (NII) improved to $30,110 Crores from $It was 273.9 billion rupees in the second quarter of last year, an increase of 10%.

The bank’s situation worsened slightly, with gross non-performing assets (NPA) rising to 1.36% of total loans as at end-September 2024 from 1.34% a year ago.

Likewise, net non-performing loans, or non-performing loans, rose to 0.41% from 0.35% at the end of the second quarter of the previous fiscal.

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