Stocks

HDFC Bank shares end marginally higher

BL Internet Desk Chennai | Updated on January 08, 2018 Published on October 24, 2017

Shares of private sector lender HDFC Bank ended the session marginally higher despite the bank posting over 20 per cent jump in Q2 net profit.

After a positive opening at Rs 1,868.35 against the previous close of Rs 1,862.65, the shares touched an intraday high of Rs 1,876.95 and a low of Rs 1,852.90.

On the BSE, the stock ended the session up by 0.13 per cent at Rs 1,865.15 and up by 0.17 per cent at Rs 1,866.55. In terms of equity volume 1.32 lakh shares changed hands on the BSE.

The bank reported a 20.1 per cent jump in net profit to Rs 4,151 crore for the second quarter ended September 30, 2017-18 against Rs 3,455.3 crore profit in the July- September quarter of the last financial year.

The bank’s total income for the quarter under review was Rs 23,276 crore, up from Rs 19,970.9 crore in the year-ago period. Its gross non-performing assets (GNPAs) rose to 1.26 per cent of gross advances from 1.02 per cent a year ago. Net NPAs also increased to 0.4 per cent from 0.3 per cent.

As a result, provisions and contingencies for the quarter almost doubled to Rs. 1,476 crore consisting of specific loan loss provisions Rs. 749 crore.

Published on October 24, 2017
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