HDFC Bank Q3 net profit rises 33% to Rs 7,417 crore

MUMBAI: India’s leading private lender HDFC Bank on Saturday reported 32.8 per cent growth in net profit at Rs 7,416.5 crore for the third quarter of the current financial year, up from a net profit of Rs 5,585.9 crore it reported during the same quarter last fiscal.

“Net interest income (interest earned less interest expended) for the quarter ended December 31, 2019, grew to Rs 14,172.9 crore from Rs 12,576.8 crore for the quarter ended December 31, 2018, driven by growth in advances of 19.9 per cent, and a growth in deposits of 25.2 per cent,” the bank said in a statement.

Total income rose to Rs 36,039 crore during the October-December quarter against Rs 30,811.27 crore in the year-ago period, HDFC Bank said in a statement. Other incomes of the bank increased to Rs 6,669.3 crore in the third quarter of FY20 against Rs 4,921.01 crore in the same quarter of the last financial year.