Mumbai: Core income growth and trading gains helped HDFC Bank post a 29 per cent jump in consolidated net profit at Rs 12,370 crore for Q1.
On a standalone basis, the largest private sector lender reported a 30 per cent jump in net profit for April-June period at Rs 11,952 crore.
This is one of the fastest profit growths reported by the city-headquartered lender, which recently completed merger of its mortgage financier parent HDFC into itself with effect from July 1 onwards.
A few years ago, it had a multi-quarter run of having a 30 per cent jump in net profits till the slowing economy tempered it to around 20 per cent levels. In the reporting quarter, core Net Interest Income grew 21 per cent to Rs 23,599 crore, helped by 15.8 per cent advances growth, while the Net Interest Margin expanded to 4.1 per cent on the overall
assets.