HDFC Bank surges 3% after Q2 earnings beat street estimates

HDFC Bank share today: The shares of HDFC Bank surged as much as 3.03 per cent Monday as the markets reacted positively to the bank’s earnings for the second quarter of the current financial year (Q2FY25). As of 09:29 am, the shares of HDFC Bank were trading 2.97 per cent or 50 points higher at Rs 1731.10 apiece. HDFC Bank , India’s largest private sector lender, posted a net profit of Rs 16,821 crore for the second quarter of FY25, marking a 5 per cent year-on-year increase and surpassing analysts' expectations. A poll of seven brokerages had predicted a profit of Rs 16,570 crore.In a stock exchange filing, HDFC Bank revealed that its net interest income (NII) rose 10 per cent year-on-year to Rs 30,114 crore, although this figure fell slightly short of the projected Rs 30,306 crore. The bank reported a core net interest margin of 3.46 per cent based on total assets, and 3.65 per cent based on interest-earning assets.In absolute terms, gross NPAs rose to Rs 34,251 crore from Rs 33,026 crore, while net NPAs climbed to Rs 10,309 crore from Rs 9,508 crore. Provisions for the quarter increased by 4 per cent, totalling Rs 2,701 crore, up from Rs 2,602 crore in the previous quarter.

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HDFC Bank surges 3% after Q2 earnings beat street estimates

As of 09:29 am, the shares of HDFC Bank were trading 2.97 per cent or 50 points higher at Rs 1731.10 apiece.

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