HDFC Bank share price today declined nearly 3.5% after the private lender reported sharp rise in provisions in Q3.
A Mixed Bag: HDFC Bank share price today declined nearly 3.5% after the private lender reported sharp rise in provisions in Q3.
The bank's provisions, including those for bad loans and contingencies, grew a whopping 37.6% to ?3,043.6cr ($429m) in Q3FY20, from ?2,211.5cr ($312m) reported last year.
The asset quality, too, came under pressure during the quarter under review. Gross Non-performing assets (NPAs) ratio rose 1.42% in December 2019 vs 1.38% last year. The gross NPAs stood at 1.38% in September 2019.
On the Other Hand: HDFC reported a 32.8% YoY rise in net profit to ?7,416.5cr ($1,046m). Net interest income (NII) also rose by 12.7% to ?14,172.9cr ($1,999m) during the quarter. Net interest margin (NIM) for the quarter remained stable at 4.2%. BS
In Other News: Kotak Mahindra Bank has posted a 6.26% rise in consolidated profit before tax (PBT) at ?2,889.47cr ($407m) in Q3.
Total consolidated income was up 19.34% YoY to ?13,542.43cr ($1,910m). Moneycontrol
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