HDFC Bank’s Q1 profit up to Rs 9,196 crore

Private banking major HDFC Bank Ltd closed the first quarter of FY23 with a net profit of Rs 9,196 crore.

According to HDFC Bank, its net profit for the period under review grew to Rs 9,196 crore from about Rs 7,729 crore earned during the first quarter ended June 30, 2021.

For the quarter ended June 30, 2022, the bank had earned a total income of Rs 41,560 crore, up from about Rs 36,771 crore earned during the corresponding period the previous year.

The bank’s gross and net non-performing asset (NPA) as on June 30, 2022 stood at about Rs 18,033 crore and Rs 4,887 crore, respectively, as against Rs 17,098 crore and Rs 5,485 crore in the corresponding period of the previous year.

Provisions and contingencies for the quarter ended June 30, 2022 were about Rs 3,187 crore (which were comprised of specific loan loss provisions) as against total provisions of about Rs 4,830 crore for the quarter ended June 30, 2021.

Total balance sheet size as of June 30, 2022 was Rs 2,109,772 crore as against Rs 1,753,941 crore as of June 30, 2021, a growth of 20.3 per cent.

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