HDFC Bank's Q3 net profit jumps 18.5% YoY on healthy interest income growth

Strong growth in net interest income boosts bottomline, provisions fall

India’s largest private lender HDFC Bank on Saturday reported an 18.5 per cent year-on-year (YoY) increase in net profit to Rs 12,259 crore in the third quarter of FY23 as healthy growth in net interest income boosted the bank’s bottomline, said the company's BSE filing.

 

On a sequential basis, the bank’s net profit grew 15.6 per cent from Rs 10,606 crore in July-September.

 

In the third quarter of the current financial year, HDFC Bank’s net interest income – which is the difference between interest earned and interest expended – registered a growth of 24.6 per cent on-year to Rs 22,987 crore. The