Private sector lender HDFC Bank on Saturday reported an 18.4 per cent increase in its standalone net profit for the second quarter of the fiscal at ₹7,513.11 crore as against ₹6,344.99 crore a year ago.
For the quarter ended September 30, 2020, the bank’s total income grew by 6.9 per cent at ₹36,069.42 crore compared to ₹33,755 crore a year ago.
Net interest income for the second quarter this fiscal grew by 16.7 per cent to ₹ 15,776.4 crore from ₹13,515.0 crore for the quarter ended September 30, 2019.
It further said this was “driven by asset growth of 21.5 per cent and a core net interest margin for the quarter of 4.1 per cent”.
Other income grew by nine per cent to ₹6,092.45 crore in the quarter under review.
Shares of the bank gained as much as 3 per cent to ₹1,235, before cooling off to ₹1,216.50.