HDFC Bank adds 2% after PAT jumps 27% in September quarter

Provisions in the quarter, however, rose 3.33 per cent QoQ basis to Rs 2,700.81 crore. These included specific loan-loss provisions of Rs 2,038 crore and general and other provisions of Rs 662.7 crore

Shares of private lender HDFC Bank rose 2.3 per cent at Rs 1,257 apiece on the BSE on Tuesday after the bank reported strong September quarter results on Saturday.

The bank's standalone net profit jumped 26.8 per cent year-on-year (YoY) to Rs 6,345 after providing Rs 2,652.40 crore for taxation. Its profit in the year-ago quarter stood at Rs 5,005.73 crore profit. According to the management, the impact of recent tax rule changes on its profitability was about Rs 450 crore.

"HDFC Bank reported an in-line quarter in 2QFY20 –PAT grew 27 per cent YoY (PBT growth was at