HDFC Bank reported a 2.2% increase in net profit for the quarter ending December 31, 2024, amounting to ₹16,735.50 crore. Despite exceeding analyst expectations, the bank saw a slight increase in its gross NPA ratio.

BulletsIn

• Net profit rose to ₹16,735.50 crore from ₹16,372.54 crore YoY, exceeding analysts’ expectations of ₹16,600 crore.
• Gross NPA ratio increased to 1.42% from 1.36% in the previous quarter; gross NPAs in absolute terms were ₹36,018.58 crore.
• Provisions and contingencies reduced to ₹3,153.85 crore from ₹4,216.64 crore a year ago.
• Net interest income grew 7.7% to ₹30,650 crore from ₹28,470 crore YoY.
• Other income (non-interest revenue) rose to ₹11,450 crore from ₹11,140 crore YoY.
• Average deposits grew 15.9% YoY to ₹24.52 lakh crore, with a 4.2% sequential increase from ₹23.54 lakh crore.
• CASA deposits rose 6% YoY to ₹8.17 lakh crore; CASA ratio stood at 34%.
• Branch network expanded to 9,143 branches from 9,092 in the previous quarter.
• Stock markets reacted positively, with HDFC Bank shares rising 1.42% to ₹1,665.05 on the BSE.