HDFC Bank's Q3 net profit rises 18% to Rs 10,342 cr

Net interest income jumps 13% to Rs 18,443.5 crore in Q3FY22, backed by a 16.5% growth in advances

Country’s largest private sector lender, HDFC Bank, on Saturday has reported an 18 per cent jump in net profit in the October–December quarter (Q3FY22) aided by higher credit growth and lower provisions. The lender’s profit after tax was to the tune of Rs 10,342.2 crore, in line with the Street estimates, compared to Rs 8,758.29 crore in the corresponding quarter of previous financial year (FY21). Analysts at Bloomberg had estimated a net profit of Rs 10,136 crore.

Net interest income, which is the interest earned minus the interest expended, increased by 13 per cent to Rs 18,443.5 crore in Q3FY22 as