HDFC Bank Q1 Net Up 30% To Rs 11,951 Cr

HDFC Bank announced on Monday reported a net profit of Rs 11,951 crore for the April-June quarter of FY24. The country's largest private sector bank witnessed a decline in its gross non-performing assets (GNPA) ratio, which improved to 1.17 per cent compared to 1.28 per cent in the same period last year.

Furthermore, the net NPA (NNPA) ratio decreased to 0.30 per cent from 0.35 per cent in the previous year. The bank's net profit also experienced substantial growth, increasing from Rs 9,196 crore in the corresponding quarter last year to Rs 11,951 crore in Q1FY24.

In terms of revenue, the bank's treasury segment reported Rs 10,537 crore, a significant rise from Rs 7,379 crore in the corresponding quarter of the previous year.

The retail banking division, which contributed significantly to the bank's revenue, reached Rs 42,939 crore compared to Rs 31,685 crore last year. Meanwhile, the wholesale banking segment registered Rs 28,332 crore, a notable increase from Rs 18,642 crore.