HDFC Bank slips over 1% as Q3 provisions rise; analysts maintain 'Buy'

On the upside, the Mumbai-headquartered bank's net profit rose 32.8 per cent year-on-year to Rs 7,416.5 crore, compared to Rs 5,585.85 crore in the corresponding period of the previous year

Shares of private lender HDFC Bank declined 3.4 per cent from day's high to hit an intra-day low of Rs 1,258.75 on the BSE on Monday as investors turned cautious after it reported sharp spike in the provisions during the October-December quarter of the current fiscal (Q3FY20). 

The bank's provisions, including those for bad loans and contingencies, grew a whopping 37.6 per cent to Rs 3,043.6 crore in Q3FY20, from Rs 2,211.5 crore reported in the year ago quarter. The increase in specific loan loss provisions jumped by 66.2 per cent to Rs 2,883.6 crore in the quarter from Rs