HDFC Bank shares decline over 3% as lender reports rise in non-performing assets in June quarter

  • HDFC Bank shares declined 3.32 percent to close at Rs 2,297.05 on the BSE

  • During the day, it dropped 3.95 percent to Rs 2,281.90

  • The bank witnessed an uptick with the gross non-performing assets (NPAs) standing at 1.40 percent of the gross advances as at end June 2019, from 1.33 percent by end June 2018

New Delhi: Shares of HDFC Bank fell by over 3 percent on Monday after the lender reported a rise in its non-performing assets for the April-June quarter.

The scrip declined 3.32 percent to close at Rs 2,297.05 on the BSE. During the day, it dropped 3.95 percent to Rs 2,281.90.

At the NSE, shares went down by 3 percent to settle at Rs 2,302.80.

On the traded volume front, 2.53 lakh shares were traded on the BSE and over 55 lakh shares on the NSE.

 HDFC Bank shares decline over 3% as lender reports rise in non-performing assets in June quarter

Representational image. Reuters.

Selling was also seen in HDFC LTD which plunged 5.09 percent to close at Rs 2,186.60 on the BSE.

HDFC Bank on Saturday reported an 18.04 percent increase in consolidated net profit to Rs 5,676.06 crore for the April-June quarter on the back of healthy growth in core income.

The bank's net profit during the similar April-June quarter of the previous fiscal stood at Rs 4,808.35 crore.

On the asset quality, the bank witnessed an uptick with the gross non-performing assets (NPAs) standing at 1.40 percent of the gross advances as at end June 2019, from 1.33 percent by end June 2018. Net NPAs were at 0.43 percent as against 0.41 percent a year ago.

In value terms, bank's gross NPAs or bad loans were Rs 11,768.95 crore by June end this year, up from Rs 9,538.62 crore year ago same period.

Consolidated income of the bank rose to Rs 34,324.45 crore April-June 2019 from Rs 28,000.06 crore in the year-ago quarter, the bank said in a regulatory filing.

Updated Date: Jul 22, 2019 19:00:10 IST