Housing development finance corporation, Financial services company

Private sector lender HDFC Bank on Saturday said its consolidated net profit surged by 22.3 per cent to Rs 11,125 crore for the July-September quarter of the current financial year led by strong growth in loan.The bank's consolidated advances grew by 22.8 per cent from Rs 1,249,331 crore as on September 30, 2021, to Rs 1,533,945 crore as on September 30, 2022.HDFC Bank's consolidated net profit for the half year ended September 30, 2022 was Rs 20,704 crore, up 21.7 per cent, over the half year ended September 30, 2021.On a standalone basis, HDFC Bank's profit before tax (PBT) for the quarter ended September 30, 2022 stood at Rs 14,152.0 crore. After providing Rs 3,546.3 crore for taxation, the Bank earned a net profit of Rs 10,605.8 crore, an increase of 20.1 per cent over the quarter ended September 30, 2021, according to data released by HDFC Bank after its board meeting on Saturday.The Board of Directors of HDFC Bank Limited approved the Bank's (Indian GAAP) results for the quarter and half year ended September 30, 2022, at its meeting held in Mumbai on Saturday.The Bank's core net revenue (excluding trading and Mark to Market losses), grew by 18.3 per cent to Rs 28,869.8 crore for the quarter ended September 30, 2022 from Rs 24,409.7 crore for the quarter ended September 30, 2021.The total net revenues (net interest income plus other income) were Rs 28,616.7 crore for the quarter ended September 30, 2022.Net interest income (interest earned less interest expended) for the quarter ended September 30, 2022 grew by 18.9 per cent to Rs 21,021.2 crore from Rs 17,684.4 crore for the quarter ended September 30, 2021. Core net interest margin was at 4.1 per cent on total assets, and 4.3 per cent based on interest earning assets.The four components of other income for the quarter ended September 30, 2022 were fees & commissions of Rs 5,802.9 crore (Rs 4,945.9 crore in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of Rs 947.8 crore (Rs 867.3 crore in the corresponding quarter of the previous year), loss on sale/revaluation of investments of Rs 253.1 crore (gain of Rs 675.5 crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend, of Rs 1,097.9 crore (Rs 912.1 crore in the corresponding quarter of the previous year).Other income, excluding trading and Mark to Market losses, grew by 16.7 per cent over the quarter ended September 30, 2021.Operating expenses for the quarter ended September 30, 2022 were Rs 11,224.6 crore, an increase of 21.0 per cent over Rs 9,277.9 crore during the corresponding quarter of the previous year. The cost-to-income ratio for the quarter was at 39.2 per cent.For the half year ended September 30, 2022, the Bank earned a total income of Rs 87,742.2 crore as against Rs 75,525.6 crore in the corresponding period of the previous year.Net revenues (net interest income plus other income) for the half year ended September 30, 2022 were Rs 54,486.4 crore, as against Rs 48,382.6 crore for the half year ended September 30, 2021. Net profit for the half year ended September 30, 2022 was Rs 19,801.8 crore, up by 19.5 per cent over the corresponding half year ended September 30, 2021.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Housing Development Finance CorporationFOLLOW

Housing development finance corporation, Latest News

Chennai, Jan 14 The HDFC Bank closed the third quarter of FY23 with a net profit of about ... ...

Shahpur (Punjab), Jan 11 Punjab Chief Minister Bhagwant Mann on Wednesday announced to construct a stadium and name ... ...

Mumbai, Jan 3 Cloud will be foundational to scaling India's digital journey and Microsoft is innovating across the ... ...

Gurugram, Dec 26 Six men were arrested from a hotel located on the Mehrauli-Gurugram road for allegedly cheating ... ...

HDFC Bank on Wednesday said it acquired a minority stake in fintech startup Mintoak for a sum of Rs ... ...

Vymo, the leading Sales Engagement Platform for Financial Institutions, recently organized Nudge 2022, their annual banking conference, in Mumbai. ...

Aurangabad Cyber fraudsters cheated a college clerk of Rs 86,000 online by sending him a fake message that his ... ...

Private sector lender HDFC Bank on Saturday said its consolidated net profit surged by 22.3 per cent to Rs 11,125 crore for the July-September quarter of the current financial year led by strong growth in loan. ...