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NEW DELHI: HDFC Bank s third quarter results impressed analysts, who said that the profit beat was led by healthy treasury gains and recoveries. They noticed a slight recovery in the lender s net interest margin (NIM) and said the restructuring of 0.5 per cent of its loans was in line with expectations.
The bank s management expects faster asset quality normalisation and better credit growth outlook, said analysts, who suggested a target price as high as Rs 1,860 for the stock. This suggests a potential upside of 27 per cent over Friday s closing price of Rs 1,466.35.
On Monday, the scrip was up 1.51 per cent at Rs 1,488.45 on BSE.
HDFC Bank To Report Q3 Numbers Today; Here s What To Expect
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HDFC Bank Q3 Profit Jumps 18% To Rs 8,758 Crore, Asset Quality Improves Sequentially
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HDFC Bank Q3 Profit Rises To Rs 8,760 crore; Asset Quality Stable
This is also the maiden earnings declaration under new chief executive and managing director Sashidhar Jagdishan, who succeeded Aditya Puri as the head of the HDFC bank. PTI Outlook Web Bureau 2021-01-16T18:45:02+05:30 HDFC Bank Q3 Profit Rises To Rs 8,760 crore; Asset Quality Stable outlookindia.com 2021-01-16T18:46:40+05:30
India s largest private sector lender HDFC Bank on Saturday reported a 14.36 per cent jump in consolidated net profit to Rs 8,760 crore for the December quarter, driven by a surge in core income.
At the standalone level, net profit for the three-month period grew 18.09 per cent to Rs 8,758.29 crore, on the back of a 15.1 per cent growth in the core net interest income at Rs 16,317 crore. Its deposits grew 19.1 per cent and the share of low-cost current and savings account deposits was 43 per cent.