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HDFC Bank shares decline over 3% on NPAs woes

Press Trust of India  |  New Delhi 

Shares of HDFC Bank fell by over 3 per cent on Monday after the lender reported rise in its non-performing assets for the April-June quarter.

The scrip declined 3.32 per cent to close at Rs 2,297.05 on the BSE. During the day, it dropped 3.95 per cent to Rs 2,281.90.

At the NSE, shares went down by 3 per cent to settle at Rs 2,302.80.

On the traded volume front, 2.53 lakh shares were traded on the BSE and over 55 lakh shares on the NSE.

Selling was also seen in HDFC LTD which plunged 5.09 per cent to close at Rs 2,186.60 on the BSE.

HDFC Bank Saturday reported an 18.04 per cent increase in consolidated net profit to Rs 5,676.06 crore for the April-June quarter on the back of healthy growth in core income.

The bank's net profit during the similar April-June quarter of the previous fiscal stood at Rs 4,808.35 crore.

On the asset quality, the bank witnessed an uptick with the gross non-performing assets (NPAs) standing at 1.40 per cent of the gross advances as at end June 2019, from 1.33 per cent by end June 2018. Net NPAs were at 0.43 per cent as against 0.41 per cent a year ago.

In value terms, bank's gross NPAs or bad loans were Rs 11,768.95 crore by June end this year, up from Rs 9,538.62 crore year ago same period.

Consolidated income of the bank rose to Rs 34,324.45 crore April-June 2019 from Rs 28,000.06 crore in the year-ago quarter, the bank said in a regulatory filing.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 22 2019. 17:10 IST