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HDFC Bank stock gains 2% post Q1 earnings

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PTI July 24, 2017

New Delhi, Jul 24 (PTI) Shares of HDFC Bank today ended with nearly 2 per cent gain, adding Rs 8,031 crore to its market valuation, after the company reported 20.22 per cent increase in net profit for the quarter ended June 30. The stock gained 1.83 per cent to settle at Rs 1,734.55 on BSE. During the day, it rose by 2.16 per cent to Rs 1,740.20 — its 52-week high. On NSE, the shares gained 1.88 per cent to close at Rs 1,735.10. The companys market valuation surged Rs 8,030.93 crore to reach Rs 4,46,452.93 crore. On the volume front, 2.62 lakh shares of the company were traded on BSE and over 49 lakh shares changed hands at NSE during the day. The private sector lender today reported 20.22 per cent increase in net profit to Rs 3,893.84 crore for the first quarter of the 2017-18 fiscal.

The bank had earned a profit of Rs 3,238.91 crore in the April-June quarter of the last fiscal.

Total income rose to Rs 22,185.38 crore during the quarter under review, up 14.81 per cent against Rs 19,322.63 crore in the same period last year.

As of June 30, HDFC Banks gross non-performing assets (NPAs) increased marginally to 1.24 per cent of gross advances as against 1.04 per cent at the end of first quarter of the last fiscal.

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