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HDFC Bank net profit up 20% in April-June, provisions increase by 49%

The bank's net revenue grows 8% from Rs 18,264.5 in the same quarter last year to Rs 19,740.7 crore

HDFC Bank | corporate earnings | Q1 results

BS Web Team  |  New Delhi 

Private-sector lender HDFC Bank on Saturday reported a net profit of Rs 6,658.62 cr for the quarter ended June 30, a 20 per cent increase over Rs 5,568.16 crore reported for the same quarter last year. The bank’s net revenue grew 8% year-on-year to Rs 19,740.7 crore from Rs 18,264.5 in the same quarter last year.

Its net interest income was up 17.8 per cent to Rs 15,665.40 crore, mainly on account of 20.9 per cent growth in advances, and 24.6 per cent rise in deposits. ALSO READ: HDFC Bank Q1 preview: Moratorium to contain slippages; recovery trends eyed Provisions and ...

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First Published: Sat, July 18 2020. 13:59 IST