HDFC Bank Q1 profit rises 20% to Rs 3,238.91 crore in the April-June quarter
HDFC Bank is an Indian Banking and Financial services company. It is India’s largest private sector lendor by assets. The 2016 World’s Best Banking Survey declared HDFC Bank is the Best Bank & Fastest Growing Bank.
HDFC Bank has reported 20.22% increase in profit in Quarter 1 ( April-June). The net profit reaches to 3,893.84 crore for the quarter ended on June 30, compared to the same quarter in the previous year. In previous years the bank have earned a net profit of 3238.91.
Total income of HDFC Bank risen up to 14.81%. That means the previous financial year’s total income is 19,322.63 crore which leads to an increase in this year to 22,185.38 crore in the same financial year. In this same quarter the Bank’sGross Non Performing Asset ( NPA) is growing from 1.04% to 1.24% compared to the previous year.
NPA means classification for loans on the books of financial institutions that are in default. In the case of Net Non Performing Asset (NPA) ,there is an increment of 0.12%. It increases from 0.32% to 0.44% in the same quarter compared to the previous year. June 30th the share of HDFC grows to 0.88%, that means the share reaches to Rs. 1717 in the afternoon trade of Bombay Stock Exchange.