HDFC Bank Q1 net up 21% at Rs 5,568 cr on higher non-interest revenue

Private lender HDFC Bank has reported a 21 per cent growth in its standalone net profit at Rs 5,568 crore in the June quarter of FY20 against Rs 4,601.4 crore in the same period last year. The growth in profit is primarily being attributed to the bank’s higher non-interest revenue even as provisions made by the lender increased 60 per cent.

The net interest income of the lender stood at Rs 13,294.3 crore in Q1FY20, up from Rs 10,813.6 crore in the year-ago quarter, registering a growth rate of 23 per cent. Net revenue rose 24.8 per cent to Rs 18,264.5