New Delhi: HDFC Bank on Saturday reported a 20.60 percent growth in its consolidated net profit to Rs 12,594.47 crore for the March 2023 quarter. The country’s largest private sector lender had reported a net profit of Rs 10,443.01 crore for the January-March period a year ago and Rs 12,698.32 crore in the preceding December quarter.
For FY23, the bank reported a net profit of Rs 45,997.11 crore against Rs 38,052.75 crore in FY22. On a standalone basis, the bank reported a 19.81 percent rise in its net profit to Rs 12,047.45 crore. (Also Read: SBI Reintroduces Amrit Kalash FD Scheme: Check Interest Rate, Benefits, And More)
Its overall income on a standalone basis grew to Rs 53,850 crore as compared to Rs 41,086 crore in the year-ago period. (Also Read: Latest FD Interest Rates For Senior Citizens 2023: 6 Best Banks Offering Rates Over 8% On 3-Year Fixed Deposits)
The overall provisions for loan losses and other aspects stood at Rs 2,685.37 crore for the reporting quarter against Rs 3,312.35 crore a year ago.
The gross non-performing assets ratio improved to 1.12 percent at the end of March from 1.17 percent a year ago and 1.23 percent in December 2022.