Shares of HDFC Bank on Monday surged nearly 4 per cent after the lender posted a 15.4 per cent rise in consolidated net profit for the March quarter on the back of healthy interest income.
The scrip closed at Rs 946, up 3.91 per cent on the BSE. During the day, it touched a high of Rs 960.85, gaining 5.54 per cent. It was the top gainer on the 30-share BSE benchmark Sensex.
On the NSE, it rose 3.62 per cent to settle the day at Rs 943.30.
In traded volume terms, 20.04 lakh shares were traded on the BSE and over 3 crore on the NSE.
HDFC Bank on Saturday posted a 15.4 per cent rise in consolidated net profit at Rs 7,280.22 crore for the March quarter on healthy interest income, even as it faced a hit towards the end of the fiscal due to the COVID-19 pandemic.
The private sector lender had posted a consolidated net profit of Rs 6,300.81 crore in the corresponding January-March period of the preceding fiscal year 2018-19.
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Total income grew to Rs 38,287.17 crore in the reported quarter as compared to Rs 33,260.48 crore in the year ago period, the bank said in a regulatory filing.
On a standalone basis, the bank's net profit for the period under review grew 17.7 per cent to Rs 6,927.69 crore from Rs 5,885.12 crore in the same period last year.
Income for the said quarter rose to Rs 35,917.63 crore as against Rs 31,204.46 crore earlier.
On the asset quality front, the gross non-performing assets as a percentage of gross advances as on March 31, 2020, improved to 1.26 per cent from 1.36 per cent at end of March 2019.