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HDFC Bank shares rise 2% on first quarter results

LiveMint logoLiveMint 24-07-2017 PTI

New Delhi: Shares of HDFC Bank on Monday rose by 2% after the company reported 20.22% increase in net profit for the quarter ended 30 June. The stock gained 2% to Rs1,737.90—its 52-week high—on BSE.

At the National Stock Exchange (NSE), shares of the company went up 2% to Rs1,738. The private sector lender on Monday reported 20.22% increase in net profit to Rs3,893.84 crore for the first quarter of 2017-18 fiscal.

The bank earned a profit of Rs3,238.91 crore in the April-June quarter of last fiscal.

Total income rose to Rs22,185.38 crore during the quarter under review, up 14.81% against Rs19,322.63 crore in the same period last year, HDFC Bank said in a BSE filing.

As of 30 June, HDFC Bank’s gross non-performing assets (NPA) increased marginally to 1.24 per cent of gross advances as against 1.04% at the end of first quarter of the last fiscal. Net NPA stood at 0.44% of net advances as on 30 June as against 0.32% reported in the first quarter of the previous fiscal.

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