HDFC Bank Q1 net profit jumps 21 percent to Rs 9,579 Cr

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HDFC Bank reported on Saturday that its June quarter net profit rose by 20.91% to Rs 9,579.11 Crore.

On a standalone basis, the largest private sector lender’s net profit increased to Rs 9,195.99 crore from Rs 7,729.64 crore in the year-ago period, but was down from Rs 10,055.18 crore in the preceding March quarter.

Its total income was Rs 41,560 crore, compared with Rs 36,771 crore for the same period a year ago.
The bank reported in an exchange filing that the total expenditure rose to Rs 26,192 crore from Rs 21634 crore.

According to the bank, overall provisions for this quarter fell to Rs 3.187.73 crore compared with Rs 4.830.84 crore during the same period last year.



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