HDFC Bank reported a 2.2 percent year-on-year (YoY) increase in its net profit, reaching Rs 16,736 crore for the quarter ending December 2024. This is slightly above the market estimate of Rs 16,650 crore predicted by Moneycontrol.
The bank’s net interest income too increased 8 percent YoY, to Rs 30,690 crore, in line with analysts estimates. NII is the difference between interest earned and interest paid and is considered one of the most important gauges of core performance of banks.
HDFC Bank stock had gone nearly flat in the five trading sessions heading into quarterly results, as caution crept over investors. The bank’s Q3 results highlight stable growth in profitability and income despite ongoing economic challenges. Investors and market participants will be closely watching how the bank continues to balance growth and asset quality in the coming quarters.
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Source: Moneycontrol
News Desk
