The net profit on a standalone basis of HDFC Bank, the largest private sector lender, increased by 34 percent to Rs 16,373 crore in the third quarter of the current financial year (October-December, 2023). The bank gave this information on Tuesday. The net profit of the bank in the same quarter of the last financial year was Rs 12,259 crore. HDFC Bank told the stock market that its total income on a standalone basis stood at Rs 81,720 crore in the quarter under review, which was Rs 51,208 crore in the same quarter of the last financial year.

The bank’s profit on a consolidated basis increased by 39 percent to Rs 17,718 crore from Rs 12,735 crore in October-December, 2022. The total income of the bank on a consolidated basis in the quarter under review reached Rs 1,15,015 crore, which was Rs 54,123 crore in the same quarter of the last financial year.

In terms of asset quality, the bank’s gross non-performing assets (NPAs) on total loans increased marginally to 1.26 percent in the December 2023 quarter from 1.23 percent in the December 2022 quarter. However, during this period the net NPA of the bank remained at 0.31 percent, which was 0.33 percent in the same quarter of the last financial year. Also, read this.