HDFC Banks' PBT rises 2.5% to Rs 9,174 crore; makes higher provisions

The country’s largest private sector lender, HDFC Bank, reported a 2.5 per cent growth in its pre-tax profit at Rs 9,174.3 crore in the March quarter as it doubled its provisioning and contingencies in light of the Covid-19 crisis.
 

It had reported a pre-tax profit of Rs 8,954.38 crore in the same period last financial year (Q4FY19).
 

However, net profit rose 17.7 per cent to Rs 6,927.7 crore in the quarter ending March 2020 versus Rs 5,885.2 crore in Q4FY19 because of lower tax outgo of Rs 2,246 crore. It was also aided by a healthy growth in net revenues