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HDFC Bank Q3 Earnings: Net profit jumped to 18 per cent in October-December quarter HDFC Bank Q3 FY21 Results: HDFC Bank, the country s largest private lender, reported a net profit of Rs 8758.3 crore on Saturday, January 16, marking an 18.1 rise in the October-December quarter. The bank s total income increased to Rs 37,522 crore on a standalone basis as compared to Rs 36,039 crore in the year-ago period. The growth in the third quarter was mostly led by non-interest income as well as pre-provision operating profit with improved asset quality performance. The asset quality of the bank improved during the October-December quarter as the gross non-performing assets (NPA) ratio stood at 0.81 per cent of the total assets as against 1.42 per cent in the year-ago period and 1.08 per cent at the end of the preceding September quarter, according to HDFC bank. ( ....
HDFC Bank Q3 Preview: Private lender HDFC Bank will flag-off the December quarter earnings for large banks when it announces its Q3FY21 results on Saturday, January 16. Amid improving economic activity, analysts expect the lender to report higher-than-industry average loan growth, implying continued market share gains. However, net profit could come under pressure due to higher slippages and lower fee income growth. Painting a grim picture, ICICI Securities forecasts a 17 per cent year-on-year (YoY) decline in the lender’s net profit at Rs 6,132.1 crore compared with Rs 7,416.5 crore net profit reported in the corresponding quarter of the previous fiscal (Q3FY20). Sequentially, the profit may contract 18 per cent from Rs 7,513.1 crore clocked in the September quarter of the current financial year (Q2FY21). ....