HDFC Bank shares have shaved off more than 2 per cent in a weak market after the country’s largest private lender reported net profit of Rs 8,186.51 crore in the March quarter, on Saturday, marking an increase of 18.2 per cent from Rs 6,927.69 crore during the same period last year. At 11:06 am, the shares of HDFC Bank were trading at Rs 1,349.50, lower by 2.36 per cent on the BSE.
The bank’s total income increased to Rs 38,017 crore on a standalone basis, compared to Rs 35,917 crore in the year-ago period. The bank earned a total income of Rs 1,46,063.1 crore by the year ended March 31, 2021.
On a sequential basis, HDFC Bank’s standalone net profit declined 6.5 per cent in the quarter ended March 2021, compared to Rs 8,758 crore at the end of the preceding October-December quarter.
The bank’s net interest income – the difference between interest earned and interest expended – grew by 12.6 per cent to Rs 17,120 crore in the fourth quarter, compared to Rs 15,204 crore in the year-ago period.
The BSE Sensex was at 47,776.06, weaker by 1052.55 points or 2.16 per cent and the NSE Nifty was at 14,308.55, down 308.25 points or 2.09 per cent.