HDFC Bank Registered Over 20% Growth in Profit

HDFC Bank Registered Over 20% Growth in Profit

Lending major HDFC Bank reported a 20.6 per cent increase in its net profit to Rs 5,005.73 crore during the quarter ended September 30, 2018, as compared to Rs 4,151.03 crore in the year-ago period.

The Bank’s total income for the quarter under review was at Rs 28,215.2 crore, up by 21.2 per cent from Rs 23,276.2 crore for the corresponding period last year.

According to the lender, net interest income (interest earned less interest expended) for the period grew by 20.6 per cent to Rs 11,763.4 crore, from Rs 9,752.1 crore for the year-ago quarter, driven by asset growth and a net interest margin for the quarter of 4.3 per cent.

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