HDFC Bank reports 15% jump in Q3 profit at Rs 3,865.33 crore, beats estimates
HDFC Bank on Tuesday reported better than expected 15.15 per cent rise in consolidated net profit at Rs 3,865.33 crore for the quarter ended December 31, 2016 against Rs 3,356.84 crore reported for the corresponding quarter last year.
For the October-December period, the bank posted net interest income (NII) of Rs 8,309.09 crore, up 17.55 per cent from Rs 7,068.51 crore logged in the same period last year.
Total income of the private sector lender climbed 13.48 per cent on a year-on-year basis to Rs 20,748.27 crore in October-December period. It had reported a consolidated total income of Rs 18,283.31 crore in the same period last fiscal.
Asset quality of the bank stood almost stable during the quarter under review with gross non-performing assets (NPA) as percentage of gross advances jumped marginally to 1.05 per cent from 1.02 per cent and net NPAs jumps to 0.32 per cent from 0.30 per cent on sequential basis.
In absolute terms, gross NPAs increased 3.22 per cent quarter-on-quarter to Rs 5,232.27 crore but net NPA jumped 5.07 per cent to Rs 1,564.32 crore in the quarter ended December 31 2016.
Technical levels for HDFC Bank
Support at 1235 and resistance at 1270
Break and sustain above 1270 will take it to 1295—1310 and then to 1325+ mark in days to come else could touch its support level of 1235.
Looks weak if closes below 1235.000
