Mumbai, Jan 22: HDFC Bank, India's largest private lender, announced a 2.2% increase in net profit for Q3 FY25, reaching Rs 16,736 crore, compared to Rs 16,373 crore in the same quarter last year. However, the bank's gross non-performing assets (NPA) ratio rose to 1.42% from 1.36% in the previous quarter, raising concerns about asset quality.
Net interest income grew by nearly 8% year-on-year to Rs 30,650 crore, with the core net interest margin at 3.43%. Operating expenses increased by 7.2% to Rs 17,110 crore, while the cost-to-income ratio stood at 40.6%. The bank's average deposits rose by 15.9% to Rs 24,52,800 crore.
Despite a slight dip in profit after tax (PAT) compared to expectations, HDFC Bank's shares gained over 1%, reaching a high of Rs 1,659.90 during intra-day trading.