HDFC Bank Q3 Results 2023|| HDFC Bank announces excellent Q3 Results 2023
HDFC Bank Q3 Results:
HDFC Bank has announced its quarterly results today and its net profit has increased by more than 18 percent. The revenue of the HDFC bank is also showing good growth.
hdfc bank Q3 results:
The country’s largest private bank has announced its quarterly results and presented good earnings and net interest margin figures. In the October-December quarter results of HDFC Bank, the bank’s net profit increased by 18.5 percent to Rs 12,259 crore. Due to this, the net profit of HDFC Bank stood at Rs 10,342 crore in the same quarter last year.
HDFC Bank’s net interest income grew by 25 percent:
In the third quarter of the financial year 2022-23, HDFC Bank‘s Net Interest Income (NII) registered a 25 percent increase and has come to Rs 22,987.8 crore. In the same quarter of the previous financial year, the net interest margin of HDFC Bank stood at Rs 18,443.5 crore. The bank was expecting good quarterly results and on Friday its stock closed at Rs 1,601 per share with flat trading.
HDFC Bank’s revenue grew by 18.3 percent:
HDFC Bank’s net revenue has increased by 18.3 percent to Rs 31,487.7 crore and in the quarter that ended December 31, 2022, its net revenue increased to Rs 26,627 crore. HDFC Bank’s core net interest margin on total assets stood at 4.1 percent. There has been a slight decline in the provisioning of the bank and it has come down to Rs 2806 crore from last year’s Rs 2994 crore.
HDFC Bank’s asset quality stable:
HDFC Bank’s asset quality has remained stable for the last three months with its Gross Non-Performing Assets (NPA) ratio remaining unchanged at 1.23 percent and Net NPA ratio at 0.33 percent. As on December 31, 2022, the bank’s net NPAs are at 0.33 percent in front of the bank’s net advances.
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