Country’s largest non-public lender HDFC Bank’s net profit rose by 18.4 per cent to Rs 7,513.1 crore for second quarter ended September 2020 (Q2Fy21) on substantial progress in curiosity earnings and different earnings.
It had posted a net profit – profit after tax (PAT) — of Rs 6,344.9 crore within the quarter ended September 2019 (Q2FY20). Sequentially, it had posted a net profit of Rs 6,658.6 crore in first quarter ended June 2020 (Q1Fy21).
On Friday (October 16, 2020), financial institution’s stock closed 2.55 per cent greater at Rs 1,199 per share on the BSE.
The net curiosity earnings (NII) grew by 16.7 per cent year-on-year (YoY), from Rs 13,515 crore in Q2FY20 to Rs 15,774.4 crore in Q2FY21. Other earnings, comprising charge and fee, grew 27.9 per cent to attain Rs 6,092 crore in Q2FY21.
The provisions (factoring in non-performing belongings, or NPAs) and contingencies rose to Rs 3,703.5 crore in Q2FY21, from Rs 2,700.6 crore in Q2FY20.
Total provisions for the present quarter consists of contingent provisions of roughly Rs 2,300 crore for NPAs and extra contingent provisions to make the stability sheet extra resilient, financial institution stated an announcement.
The asset high quality of the financial institution improved throughout the fourth quarter. The gross NPAs declined to 1.08 per cent in Q2FY21, from 1.38 per cent in Q2 FY20. The GNPAs have been at 1.36 per cent at finish of Q1Fy21.
The net NPAs have been at 0.17 per cent in September 2020, down from 0.42 per cent in September 2019. Its net NPAs have been at 0.33 per cent in June 2020 (Q1Fy21).
The whole deposits rose 20.3 per cent at Rs 12,29,310 crore and advances grew 15.8 per cent YoY to attain Rs 10,38,335 crore as of September 2020.
The capital adequacy ratio stood at 19.1 per cent as of September 30, with tier I at 17 per cent.