HDFC Bank’s mcap shrinks by RS 1trn
New Delhi: Shares of HDFC Bank climbed nearly 2 per cent in morning trade on Tuesday after the company reported a consolidated net profit of Rs 16,811 crore for the September quarter, its maiden quarterly earnings announcement after merging parent HDFC with itself.
The stock gained 1.86 per cent to Rs 1,558 on the BSE. At the NSE, it climbed 1.70 per cent to Rs 1,555.75. In traded volume terms, 1.24 lakh shares of the firm were traded in morning deals on the BSE and 41.15 lakh shares on the NSE.
On a standalone basis, the largest private sector lender reported a net profit of Rs 15,976 crore. In the year-ago period, the net profit of the merged entity would have been Rs 11,162 crore on a consolidated level, while the same on a standalone basis would have been Rs 10,606 crore. On the asset quality front, HDFC Bank reported a gross Non Performing Assets (NPAs) ratio at 1.34 per cent, as against 1.41 per cent as on July 1, when it began operating as a single unit.
