HDFC Bank Q1 FY25 Results: The country’s largest private lender’s earnings for the quarter under review was Rs 16,174.75 crore, up from Rs 11,951.77 crore the previous year.
HDFC Bank Ltd reported a 35.33 percent increase in its year-on-year (YoY) standalone net profit during the first quarter of the current fiscal year 2024-25 (Q1 FY25). The country’s largest private lender’s earnings for the quarter under review was Rs 16,174.75 crore, up from Rs 11,951.77 crore the previous year.
However, net profit for the quarter ended June 30 this year fell 2.04 percent sequentially from Rs 16,511.85 crore in the preceding quarter.
The bank’s overall income increased 44.77 percent to Rs 83,701.25 crore in Q1 FY25 from Rs 57,816.67 crore the previous year. Income increased by 6.62 percent quarter on quarter (QoQ).
The interest earned in the first quarter of FY25 was Rs 73,033.14 crore, up 50.31 percent year on year and 2.18 percent QoQ.
The percentage of gross non-performing assets (NPAs) to gross loans increased to 1.33 percent in the June 2024 quarter, up from 1.17 percent in the first quarter of FY24. The net NPA to net advances percentage increased to 0.39 percent year on year from 0.3% the previous year.
As of June 30, 2024, the lender’s total asset count has increased 42.59 percent year on year to Rs 35,67,249.53 crore from Rs 25,01,693 crore. However, the figure fell 1.39 percent on a sequential basis.
On Friday, HDFC Bank shares closed 0.67 percent lower at Rs 1,607.10 ahead of quarterly results. At this price, the stock has fallen 5.50% in 2024.
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