Shares of HDFC Bank on Monday rose 5%, buoyed by the lender’s strong June quarter numbers.
Its stock rose 4.86% to ₹1,152.65 on the BSE and climbed 4.95% to ₹1,152.90 on the NSE.
HDFC Bank on Saturday had reported nearly 20% rise in standalone net profit at ₹6,658.62 crore for the June 2020 quarter.
Its income increased to ₹34,453.28 crore for the reported quarter from ₹32,361.84 crore a year ago.
The lender’s net interest income (interest earned less interest expended) for the quarter grew 17.8% to ₹15,665.4 crore from ₹13,294.3 crore in the same period a year earlier, driven by growth in advances of 20.9% and a rise in deposits of 24.6%, the bank had said.
Also on the asset quality front, there was improvement as gross non-performing assets (NPAs) fell to 1.36% of the gross advances as on June 30, 2020 from 1.40% by the end of June 2019.
In value terms, gross NPAs or bad loans were at ₹13,773.46 crore as against ₹11,768.95 crore.
