look news india
New Delhi, April 20 (Hindustan Reporter) HDFC Bank, the largest private sector bank in the country, has announced the results for the fourth quarter (January-March) of the financial year 2023-24. The bank's profit for the fourth quarter ended March 31 increased by 2.11 percent to Rs 17,622.38 crore. In the previous quarter October-December, the integrated net profit of the company was Rs 17,257.87 crore.
HDFC Bank said in a statement issued on Saturday that its profit in the fourth quarter of the financial year 2023-24 ending March 31 has increased by 2.11 percent to Rs 17,622.38 crore. On standalone basis, its net profit stood at Rs 16,511.85 crore in the January-March quarter, compared to Rs 16,372.54 crore in the third quarter (October-December).
The bank said that in the fourth quarter of the financial year 2023-24, the basic net interest income increased to Rs 29,080 crore, while other income also increased to Rs 18,170 crore during this period. According to HDFC, the main net interest margin of the bank on total assets has been 3.44 percent. At the same time, the gross non-performing assets (GNPA) ratio has also come down to 1.24 percent. It is noteworthy that HDFC Bank had merged its housing loan focused parent company HDFC last year in July 2023.