India's HDFC Bank's April-June profit rises 19% on year

Published on Jul 16, 2022 02:22 PM IST

Net profit for the fiscal first quarter rose to 91.96 billion rupees ($1.15 billion) from 77.3 billion rupees a year earlier, the lender said in a regulatory filing.

HDFC Bank, India's first lender to report first-quarter results, has seen loan growth and asset quality improve.(Reuters file photo)
HDFC Bank, India's first lender to report first-quarter results, has seen loan growth and asset quality improve.(Reuters file photo)
Reuters |

India's largest private lender, HDFC Bank Ltd, said on Saturday its net profit for the three months to June rose 19% from the same period a year earlier, as provisions for bad loans dropped and loan growth picked up.

Net profit for the fiscal first quarter rose to 91.96 billion rupees ($1.15 billion) from 77.3 billion rupees a year earlier, the lender said in a regulatory filing.

Mumbai-based HDFC Bank, India's first lender to report first-quarter results, has seen loan growth and asset quality improve as business returned to normal after a pandemic slump.

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