HDFC Bank shares pare early gains; down 1.5% at close

Shares of HDFC Bank pared early gains and ended 1.5 per cent lower today amid an overall weakness in the broader market even as the company reported 20.72 per cent growth in net profit for the quarter ended June.
After rising 1.1 per cent to Rs 1,127.90 in intra-day trade, shares of HDFC Bank gave up the gains and finally ended at Rs 1,098.60, down 1.52 per cent on the BSE.
At the NSE, shares of the company closed 1.54 per cent down at Rs 1,098.05.
"HDFC Bank reported Q1 FY16 results which were in-line with our estimates," said Vaibhav Agrawal, VP Research - Banking, Angel Broking.

Private sector lender HDFC Bank today reported 20.72 per cent growth in net profit at Rs 2,695.72 crore for the quarter ended June 30.
The bank had earned a net profit of Rs 2,233.04 crore in the April-June quarter of 2014-15.

Total income of the bank rose 26.25 per cent to Rs 16,502.97 crore during the quarter under review as compared to Rs 13,070.65 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) were at 0.95 per cent of gross advances, as against 1.07 per cent at the end of first quarter of the last fiscal.

On quarter-on-quarter basis, it rose to 0.95 per cent from 0.93 per cent.
Net non-performing assets stood at 0.27 per cent of net advances as on June 30, 2015.