Good news for HDFC Bank as shares surge by 1.5% following 20.6% net profit in Q1

Shares of HDFC Bank Monday surged 1.5% after the company reported a rise of 20.6% in net profit for the quarter ended September 30.

The scrip gained 1.38% to settle at Rs 1,993 on BSE. During the day, it jumped 2.78% to Rs 2,020.45.

On NSE, shares of the company went up 1.55 % to close at Rs 1,998.30.

In terms of equity volume, 1.38 lakh shares of the company were traded on BSE and over 50 lakh shares changed hands on NSE during the day.

HDFC Bank Saturday reported a rise of 20.6 % in net profit to Rs 5,005.73 crore for the second quarter of 2018-19, as the core income grew at a healthy pace.

The bank had registered a net profit of Rs 4,151.03 crore in the July-September quarter of 2017-18.

Total income grew 21.2 % to Rs 28,215.2 crore as against Rs 23,276.2 crore earlier, the bank had said in a regulatory filing.

On asset front, the gross non-performing assets (NPAs) of the bank rose slightly to 1.33 % of the gross advances as on September 30, 2018 from 1.26 % on September 30, 2017.

In value terms, gross NPAs of the bank stood at Rs 10,097.73 crore by the end of September quarter, compared to Rs 7,702.84 crore in the year-ago period.