HDFC Bank's shares hit an all-time after its third quarter earnings beat street's expectation

Mumbai, Shares of HDFC Bank surged to a record high on Monday on the back of strong earnings reported for the October-November quarter.

Its shares on the BSE touched an all-time high of ₹1,503 per share. The bank's stock price, however, is off highs now, and around 12.20 p.m., the scrip was trading ₹1,483.40, higher by ₹17.05 or 1.16 per cent from its previous close.

On Saturday, the lending major reported an 18.1% increase in standalone net profit for the quarter ended December 31 of FY21 on a year-on-year basis.

---

The bank's net profit for the third quarter of FY21 rose to ₹8,758.3 crore on a year-on-year basis.

The bank's net revenues (net interest income plus other income) grew to ₹23,760.8 crore during the period under review from ₹20,842.2 crore for the quarter ended December 31, 2019.


SEE ALSO:
The startup behind Chhota Bheem, Motu Patlu and Shikari Shambhu is back with an IPO plan ⁠⁠— after a series of acquisitions and fundraisings
The ₹4,600 crore IPO from IRFC is ‘attractive,’ and the best thing about the borrowing arm for Indian Railways is the assured margin