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HDFC Bank Q2 net profit rises 16% to Rs 7,703 crore – Times of India

NEW DELHI: HDFC Financial institution on Saturday reported a 16 per cent rise in its consolidated internet revenue at Rs 7,703 crore for the second quarter ended September 30.
The non-public sector lender had posted a consolidated internet revenue of Rs 6,638 crore within the corresponding quarter a yr in the past.
Complete consolidated earnings through the quarter underneath evaluate rose to Rs 38,438.47 crore as towards Rs 36,130.96 crore in July-September 2019, the financial institution mentioned in a launch.
On asset entrance, gross non-performing property (NPAs) of the financial institution fell to 1.08 per cent of the gross advances as on September 30, 2020, as towards 1.38 per cent a yr earlier.

In absolute worth, gross NPAs or unhealthy loans diminished to Rs 11,304.60 crore from Rs 12,508.15 crore.
Likewise, internet NPAs too got here right down to 0.17 per cent (Rs 1,756.08 crore) from 0.42 per cent (Rs 3,790.95 crore).
Nevertheless, its provisioning for unhealthy loans and contingencies rose to Rs 3,703.50 crore for the second quarter of FY21 as towards Rs 2,700.68 crore parked apart for throughout the identical interval a yr in the past.
Consolidated advances grew by 14.9 per cent to Rs 10.89 lakh crore on the finish of September 2020 from Rs 9.47 crore a yr earlier, HDFC Financial institution mentioned.
In the meantime, the lender knowledgeable that its board of administrators on the assembly held on Saturday authorized appointment of Sashidhar Jagdishan as an extra director and likewise managing director and chief government officer of the financial institution.
His appointment is topic to the approval of the shareholders of the financial institution. Jagdishan’s appointment will probably be for a interval of three years beginning October 27, 2020, as authorized by the Reserve Financial institution of India vide its e mail dated August 3, 2020, it mentioned.


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