Mumbai8 minutes ago
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The standalone net profit of HDFC, the country’s largest private bank, increased by 2.2% year-on-year to ₹16,736 crore in the October-December quarter. It was ₹16,372.5 crore in the same quarter last year.
HDFC Bank’s earnings have been higher than analysts’ estimates. Analysts had estimated a net profit of Rs 16,650 crore. HDFC has released the results for Q3FY25 i.e. the third quarter of the financial year 2024-25 on Wednesday (January 22).
However, the total income of the bank declined by 2.45% on an annual basis in the December quarter to Rs 1,12,193.94 crore, which was Rs 1,15,015.51 crore in the same quarter last year. Whereas the total income in the July-September quarter was Rs 85,499 crore.
HDFC Bank shares rose 1.79% after the results
After the results, there was a rise in the shares of HDFC Bank. It closed at Rs 1,671, up 1.79%. With this the market cap of the company has increased to Rs 12.73 lakh crore. In the last one month, the bank’s shares have given a negative return of 7.17% to its investors.
