HDFC Bank extends gains post June quarter result; stk surges 9.5% in 4 days

The stock was up 5% to Rs 1,153 after the lender reported 20 per cent year on year growth in net profit at Rs 6,659 crore for April-June quarter (Q1FY21) supported by operational income

Shares of HDFC Bank soared 5 per cent to Rs 1,153 on the BSE on Monday after the lender reported 20 per cent year on year (YoY) growth in net profit at Rs 6,659 crore for the April-June quarter (Q1FY21), supported by operational income. The stock of the private sector bank has rallied 9.5 per cent in the past four trading days.

Net interest income (interest earned less interest expended) for Q1FY21 grew by 17.8 per cent YoY to Rs 15,665 crore from Rs 13,294 crore logged in the quarter ended June 30, 2019, driven by growth in advances and deposits.