HDFC Bank Q1 net up 20% at Rs 3,893 cr on strong revenue growth

Asset quality of the bank saw a slight deterioration as gross NPA stood at 1.24%

HDFC Bank saw a rise of 20 per cent in profit in the first quarter, backed by a rise in revenue and a reduction in cost-to-income ratio. 

The private sector lender’s net profit rose 20 per cent to Rs 3,893 crore in the quarter ended June from Rs 3,239 crore in the year-ago quarter.

Analysts say that HDFC Bank’s performance exceeded expectations on most operating performances. This was despite the marginal impact on asset quality due to the spate of farm-loan waiver demands across the country.

Net interest income, the difference between interest earned and interest expended, was Rs 9,370 crore in the