HDFC Bank reports Q2 net profit at ₹16,811 crore; ₹15,976 crore on standalone basis

These were the first results since the June merger of HDFC Limited with and into HDFC Bank.

Largest private sector lender HDFC Bank on Monday reported a net profit of ₹16,811 crore on a consolidated level.

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In the first results of the merged entity after the amalgamation of its parent HDFC Ltd into the lender, HDFC Bank reported a net profit of ₹15,976 crore on a standalone basis.

In the year-ago period, the net profit of the merged entity would have been ₹11,162 crore on a consolidated level, while the same on a standalone basis would have been ₹10,606 crore.

The total income grew to ₹78,406 crore on a standalone basis, from ₹46,181 crore in the year-ago period.

On the net interest margin (NIM) front, the bank reported a narrowing to 3.4 per cent after absorbing the debt funded cost for additional liquidity and merger management.

Its gross non-performing assets ratio came at 1.34 per cent, as against 1.23 per cent in the year-ago period.

The HDFC Bank scrip closed 0.47 per cent down at ₹1,529.50 a piece on the BSE, as against a 0.17 per cent correction on the benchmark.