HDFC Bank third quarter net profit rises 14.36% to Rs 8,760 crore

HDFC bank is the largest private sector lender in India

The country's largest private sector lender HDFC Bank on Saturday reported a 14.36 per cent jump in consolidated net profit to Rs 8,760 crore for the December quarter.

At the standalone level, the net profit for the three-month period grew 18.09 per cent to Rs 8,758.29 crore.

Its total income increased to Rs 37,522 crore on a standalone basis compared to Rs 36,039 crore in the year-ago period.

The results, the first earnings to be declared by the bank under new chief executive and managing director Sashidhar Jagdishan, displayed an improvement in the asset quality.

The gross non-performing assets (NPA) ratio stood at 0.81 per cent of the total assets as against 1.42 per cent in the year-ago period and 1.08 per cent at the end of the preceding September quarter, the bank said.