Stocks

HDFC Bank shares hit 52-week high on Q1 earnings

PTI New Delhi | Updated on January 11, 2018 Published on July 24, 2017

Shares of HDFC Bank today rose 2 per cent as the company has reported 20.22 per cent increase in net profit for the quarter ended June 30.

The stock gained 2 per cent to Rs 1,737.90 — its 52-week high — on the BSE. On the NSE, the stock jumped 2 per cent to Rs 1,738.

The private sector lender has reported 20.22 per cent increase in net profit to Rs 3,893.84 crore for the first quarter of 2017-18 fiscal. It had earned a profit of Rs 3,238.91 crore in the April-June quarter of last fiscal.

Total income rose to Rs 22,185.38 crore during the quarter under review, up 14.81 per cent, from Rs 19,322.63 crore in the same period last year, HDFC Bank said in a BSE filing.

As of June 30, HDFC Bank’s gross non-performing assets (NPAs) increased marginally to 1.24 per cent of gross advances against 1.04 per cent at the end of first quarter of the last fiscal.

Net non-performing assets stood at 0.44 per cent of net advances as of June 30 against 0.32 per cent reported in the first quarter of the previous fiscal.

Published on July 24, 2017
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