HDFC Bank shares gain over 2% after Q4 results

By Selene 0

New Delhi: Shares of HDFC Bank on Friday rose by over 2%, adding Rs 8,918 crore to its market valuation, after the company reported an 18.2% growth in net profit for the March quarter.

The stock gained 2.38% to end at Rs 1,496.75 on BSE. During the day, it rose by 2.60% to Rs 1,500, its 52-week high level.

On NSE, it jumped 2.35% to close at Rs 1,496.60. The company’s market valuation rose by Rs 8,918.03 crore to Rs 3,83,549.03 crore. In terms of volume, 5.15 lakh shares of the company were traded on BSE and over 43 lakh shares changed hands on NSE during the day.

HDFC Bank on Friday reported an 18.2% growth in net profit at Rs 3,990 crore for the March quarter.

Also Read: HDFC Bank Q4 profit rises 18.25% to Rs3,990 crore, bad loans stable

The country’s second largest private sector lender had posted a net profit of Rs 3,374 crore in the January-March period of 2015-16 fiscal.

Bad loans provisioning rose sharply during the quarter to Rs 1,261 crore, up from Rs 662 crore in the January-March period of 2015-16, it said in a BSE filing.

Total income during the fourth quarter rose to Rs 21,560 crore, up from Rs 18,862 crore in the same quarter of the previous fiscal. For full 2016-17 fiscal, HDFC Bank reported a net profit of Rs 14,549 crore, a growth of 18.3% over the previous financial year.

Gross non-performing assets (NPA) of the bank as a percentage of total advances rose to 1.05% during the March quarter, from 0.94% in the same quarter of 2015-16 fiscal.

First Published: Fri, Apr 21 2017. 04 55 PM IST

Source: Livemint.com