HDFC Bank gains 6% on stable operational performance in March quarter

In Q4, the bank's profit before tax up 2.5 per cent year-on-year at Rs 9,174 crore, due to higher provisioning in the light of the Covid-19 crisis

Shares of HDFC Bank rose 6 per cent to Rs 961 on the BSE on Monday after the bank’s net interest income (NII) grew 16.2 per cent year-on-year (YoY) at Rs 15,204 crore in the January-March quarter (Q4FY20), exceeding Street expectations.

The bank's profit before tax (PBT) was up 2.5 per cent at Rs 9,174 crore YoY, due to higher provisioning in the light of the Covid-19 crisis.  The bank’s net interest margin (NIM), a measure of profitability, stood at 4.3 per cent in Q4FY20. In comparison, the private lender's NIM stood at 4.2 per cent in Q3FY20. Operating