HDFC Bank Q2 Financial Results: India's largest private sector bank HDFC Bank on Saturday presented its financial results for the July-September quarter of 2024. Its profit in the quarter increased 5.3% year-on-year (YoY) to Rs 16,821 crore. The bank's profit in the same quarter of the previous financial year was Rs 15,976 crore. The bank said in a statement to the stock market on Saturday that the total income increased to Rs 85,500 crore in the September quarter from Rs 78,406 crore in the same quarter of the previous financial year.

Increase in interest income

The bank's interest income rose to Rs 74,017 crore in the September quarter from Rs 67,698 crore in the same quarter of the previous fiscal. Net interest income (NII) grew 10 percent to Rs 30,110 crore from Rs 27,390 crore in the second quarter of the previous year.

Increase in NPA ratio.

In terms of asset quality, the bank's gross NPAs rose to 1.36 percent of gross loans as of the end of September 2024 from 1.34 percent a year ago. Similarly, net NPAs or bad loans rose to 0.41 percent from 0.35 percent at the end of the second quarter of the previous fiscal.

Advances and Retail Loans

The bank's gross advances grew 7 percent to Rs 25.19 lakh crore in the July-September quarter. Retail loans grew 11.3 percent, and commercial and retail banking grew 17.4 percent. However, corporate and other wholesale loans declined 12 percent. Foreign advances accounted for 1.7 percent of total advances.