HDFC Bank on Saturday reported a 20.60% 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 per cent rise in its net profit to Rs.12,047.45 crore. Its overall income on a standalone basis grew to Rs.53,850 crore compared to Rs.41,086 crore in the year-ago period.
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 per cent at the end of March from 1.17 per cent a year ago and 1.23 per cent in December 2022.