HDFC Bank shares jump nearly 6% after lender posts 15.4% rise in net profit in Q4 earnings

HDFC Bank shares jumped 5.54 percent to Rs 960.85 on the BSE. It was the top gainer on the 30-share BSE benchmark Sensex.

Press Trust of India April 20, 2020 10:50:34 IST
HDFC Bank shares jump nearly 6% after lender posts 15.4% rise in net profit in Q4 earnings

New Delhi: Shares of HDFC Bank on Monday surged nearly 6 percent after the lender posted a 15.4 percent rise in consolidated net profit for the March quarter on healthy interest income.

The scrip jumped 5.54 percent to Rs 960.85 on the BSE. It was the top gainer on the 30-share BSE benchmark Sensex.

On the NSE, it rose by 5.56 percent to Rs 960.95.

HDFC Bank on Saturday posted a 15.4 percent rise in consolidated net profit at Rs 7,280.22 crore for the March quarter on healthy interest income, even as it faced a hit towards the end of the fiscal due to the COVID-19 pandemic.

The private sector lender had posted a consolidated net profit of Rs 6,300.81 crore in the corresponding January-March period of the preceding fiscal year 2018-19.

Consolidated total income grew to Rs 38,287.17 crore in the reported quarter, Rs 33,260.48 crore in the year ago period, the bank said in a regulatory filing.

On a standalone basis, the bank's net profit grew by 17.7 per cent to Rs 6,927.69 crore from Rs 5,885.12 crore. Income rose to Rs 35,917.63 crore as against Rs 31,204.46 crore earlier.

On the asset quality front, the gross non-performing assets as a percentage of gross advances as on March 31, 2020 improved to 1.26 per cent from 1.36 per cent at end of March 2019.

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