HDFC Bank Q2 result: Net profit rises 50% to Rs 15,796 crore; NII up 30.3%

The net profit of HDFC Bank for the second quarter of the current financial year (Q2FY24) rose 50.6 per cent to Rs 15,796 crore from Rs 10,605 crore year-on-year (y-o-y), the bank said in a BSE filing. Total income of the bank stood at Rs 78,406 crore in Q2, up 69 per cent y-o-y from Rs 46181 crore.

The bank’s net revenue grew by 33.1 per cent to Rs 38,093 crore for the quarter ended September 30, 2023 from 28,617 crore for the quarter ended September 30, 2022. 

Net interest income (NII) for the Q2FY24 grew by 30.3 per cent to Rs 27,385 crore from Rs 21,021 crore for the Q2FY23. Core net interest margin for the quarter was 3.65 per cent on total assets and 3.85 per cent on interest earning assets.