HDFC Bank Q2 results: HDFC Bank today reported a 20.6% jump in its profit on-year to Rs 5,005 crore in the second quarter of the financial year 2018-19, which could be positive for the banking sector amid losses, change of leadership and high NPAs at other public and private banks. India’s second-largest bank’s income was also up 21.2% at Rs 28,215 crore, while the asset quality was stable, with 1.33% gross non-performing asset as on September 30, 2018.
The income grew mostly on the back of fee and commission. HDFC Bank said that fees and commission constituted 82.1% of other income.
HDFC Bank Q2 results: Key figures in nutshell
- HDFC Bank posted a net profit of Rs 5,005.73 crore, up 20.6% on-year from 4,151.03 crore
- Total income of the bank in the second quarter was Rs 28,215.2, up 21.2% from Rs 23,276.2 crore on-year.
- HDFC Bank’s gross non-performing assets (NPAs) was 1.33%, up slightly from 1.26% same quarter last year.
- Fees and commission income was Rs 3,295.6 crore for the quarter ended September 30, 2018, up by 26.1% over from Rs 2,614.0 crore in the corresponding quarter ended September 30, 2017.
- The bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines was 17.1% as against 15.1% a year ago. The regulatory requirement of CAR is 11.025%.