HDFC Bank net up 20.6% to Rs 50 bn in Sep quarter; gross NPAs rise 1.33%

The bank's net interest margin stood at 4.3% during second quarter of the 2018-19 financial year

HDFC Bank on Saturday reported a 20.6 per cent year-on-year increase in its net profit to Rs 50.05 billion for the July-September quarter (Q2), a tad short of Bloomberg consensus estimate of Rs 50.33 billion. Operational parameters, however, remained healthy. The private sector lender had registered a net profit of Rs 41.51 billion in the year-ago quarter.

One factor that curtailed profit growth was other income, which grew by 11.3 per cent year-on-year to Rs 40.15 billion. Other income, which comprises non-interest revenue, was weighed down by a Rs 328 million loss on revaluation or sale of investments as compared to