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HDFC Bank shares gain over 2% after Q3 earnings

HDFC bank share price: The stock jumped 2.49 per cent to its 52-week high of Rs 1,503 on BSE. On NSE, it rose 2.46 per cent to Rs 1,502.85 -- its one-year high.

By: PTI | New Delhi |
Updated: January 18, 2021 12:33:48 pm
An HDFC Bank Ltd. logo sits in a bank branch in Mumbai, India (Photographer: Abhijit Bhatlekar/Bloomberg News)

Shares of HDFC Bank on Monday gained over 2 per cent after the company reported a 14.36 per cent jump in consolidated net profit for the December quarter.

The stock jumped 2.49 per cent to its 52-week high of Rs 1,503 on BSE.

On NSE, it rose 2.46 per cent to Rs 1,502.85 — its one-year high.

The country’s largest private sector lender on Saturday reported a 14.36 per cent jump in consolidated net profit to Rs 8,760 crore for the December quarter, driven by a surge in core income.

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At the standalone level, net profit for the three-month period grew 18.09 per cent to Rs 8,758.29 crore, on the back of a 15.1 per cent growth in the core net interest income at Rs 16,317 crore.

HDFC Bank is the first major lender to declare its results for the December quarter.

The results showed an improvement in the asset quality with the gross non-performing assets (NPA) ratio stood at 0.81 per cent of the total assets as against 1.42 per cent in the year-ago period and 1.08 per cent at the end of the preceding September quarter, the bank said.

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