HDFC Bank’s Q2 Profit Surges 20%
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The bank’s net interest income surged 23.1% to Rs 5,511 crore in the July-September quarter from Rs 4,476.5 crore in the same period last year. The net interest margin rose 10 basis points sequentially to 4.5% from 4.4%.
Other incomes (consisting of fees and commissions, foreign exchange and derivatives, profit on sale of investments) went up by 11% to Rs 2,047 crore from Rs 1,844 crore during the same period while operating expenses jumped 19.2% to Rs 3,497.90 crore from Rs 2,934.2 crore year-on-year.
The bank’s gross non-performing assets (NPAs) fell to 1.02%, while net NPA remained unchanged at 0.3%.
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