HCL Q3 Net profit Marginally up at Rs 2075 crore

HDFC Bank posts record Q3 profit on steady asset quality

HDFC Bank's market cap crosses Rs5,00000 cr as shares spurt

Operating Profit of Rs 20.01 billion for Q3FY18; y-o-y growth of 37.7%.

Shares of HDFC Bank were trading 0.63 per cent up at Rs 1944 post the quarterly nummers, whereas benchmark BSE Sensex was trading 124 points, or 0.35 per cent, up at 35,384 at around 12.05 pm (IST).

Its net interest income stood at Rs 1,888.8 crore for third quarter of the fiscal, a growth of 26.8 per cent on yearly basis.

The country's second largest private sector lender further said its loan growth was contributed by both segments of its loan portfolio with the loan mix between retail:wholesale at 55:45.

Numbers were largely in line with estimates.

Analysts on average had expected a net profit of 10.69 billion rupees, according to Thomson Reuters data.

HDFC Banks provisions (other than tax) and contingencies increased to Rs 1,351.44 crore as against Rs 715.78 crore reported in the corresponding period a year ago.

The core cost-to-income ratio for the quarter improved to 41.2 percent from 43.8 percent in year-ago period.

"We finished last quarter on a strong note, with a growth of 3.3 per cent sequentially and 11.2 per cent year-on-year in constant currency terms", HCL Technologies President and CEO C Vijayakumar said. The private sector bank had posted a net profit of Rs 3,865.33 crore in the October-December quarter of last fiscal.

Operating profit during the quarter grew by 27.9 percent to Rs 8,451.3 crore compared to Rs 6,609.3 crore in same quarter previous year. Net NPA was 0.93 per cent in the quarter ending December 2017 compared to 0.29 per cent in the similar period past year. The regulatory requirement is 10.25 percent including capital conservation buffer of 1.25 percent.

HDFC Bank, world's most expensive bank in terms of price to book, became the third Indian company and the first Indian bank to cross a new milestone of Rs 5 lakh cr in market capitalisation on Thursday.

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