India's largest pvt bank earns Rs 16736 crore in 3 months, market cap rises to Rs...

India's largest private sector lender, HDFC Bank, has reported a marginal 2 per cent rise in its standalone net profit to Rs 16,736 crore for the third quarter ended December 2024 (October - December). After the announcement, the market cap of the bank rose to Rs 12.73 lakh crore, as of January 22. 

The bank had earned a net profit of Rs 16,373 crore in the corresponding quarter of the previous fiscal year. The total income on a standalone basis rose to Rs 87,460 crore in the third quarter of FY25 against Rs 81,720 crore in the year-ago period, HDFC Bank said in a regulatory filing.

On a consolidated basis, the bank's profit also witnessed a slight improvement to Rs 17,657 crore from Rs 17,258 crore. The consolidated total income declined to Rs 1,12,194 crore from Rs 1,15,016 crore at the end of the October-November quarter of the previous year.

READ | Deepinder Goyal's Zomato's net profit dropped by 57% in 3 months, company earns just Rs...

On the asset quality front, the bank's gross Non-Performing Assets (NPAs) deteriorated to 1.42 per cent of gross loans by the end of December 2024 from 1.26 per cent a year ago. Net NPAs or bad loans rose to 0.46 per cent compared to 0.31 per cent in 2023.

(Except for the headline, this story has not been edited by DNA staff and is published from PTI)