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NEW DELHI: HDFC Bank, India’s largest private lender, reported a net profit of Rs 16,811 crore on a consolidated level, the first since its merger with parent Housing Development Finance Corp (HDFC) on July 1.
In the first results of the merged entity after the amalgamation of its parent HDFC Ltd into the lender, HDFC Bank reported a net profit of Rs 15,976 crore on a standalone basis.
In the year-ago period, the net profit of the merged entity would have been Rs 11,162 crore on a consolidated level, while the same on a standalone basis would have been Rs 10,606 crore.
The total income grew to Rs 78,406 crore on a standalone basis, from Rs 46,181 crore in the year-ago period.
The bank’s board of directors recommended a dividend of Rs 18 per share for the quarter.
The HDFC Bank scrip closed 0.47% down at Rs 1,529.50 a piece on the BSE, as against a 0.17% correction on the benchmark.
In the first results of the merged entity after the amalgamation of its parent HDFC Ltd into the lender, HDFC Bank reported a net profit of Rs 15,976 crore on a standalone basis.
In the year-ago period, the net profit of the merged entity would have been Rs 11,162 crore on a consolidated level, while the same on a standalone basis would have been Rs 10,606 crore.
The total income grew to Rs 78,406 crore on a standalone basis, from Rs 46,181 crore in the year-ago period.
The bank’s board of directors recommended a dividend of Rs 18 per share for the quarter.
The HDFC Bank scrip closed 0.47% down at Rs 1,529.50 a piece on the BSE, as against a 0.17% correction on the benchmark.
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