HDFC Bank Profit Up By 20-pc, Stock trade higher

HDFC Bank, one of India’s largest private sector banks, reported a 20.31% increase in the net profit for the Q3FY 2018-19 to Rs 5,585.85 crore as against Rs 4,642.60 crore on year on year basis.

Net interest income progressed by 21.93%, year-on-year to Rs 12,576.75 crore during the quarter ended Dec 2018 versus Rs 10,314.3 crore in the year before. The Bank increased its provisions in the Q3 by 63.6% to Rs 2,211.53 crore, while non-interest revenue was up 27.2% to Rs 4,921 crore for the Q3

Reacting positively to the earning results, the stocks of HDFC Bank which opened at Rs. 2,139.95 per share on the NSE and traded higher at Rs 2,160.55  by 1.42% and reached an intraday high of 2,160.55 and an intraday low of Rs 2,126.50 at 11.20 am, Monday. Meantime, BSE Sensex trade 241 points higher at 36628-level and Nifty higher by 58 points at 19965-level.