After the nation’s largest private sector bank released its financial results for the fiscal first quarter that concluded in June 2024, the share price of HDFC Bank increased by more than 2% in early trading on Monday. HDFC Bank shares gained in an otherwise poor market, as the benchmark Nifty 50 dropped half a percent, while the Bank Nifty fell 0.6%.
In Q1FY25, HDFC Bank reported a net profit of ₹16,175 crore, a 2% decrease from ₹16,512 crore in the previous quarter. In the June quarter, the bank’s net interest income (NII) increased by 2.6% to ₹29,837 crore, up from ₹29,078 crore in the March quarter. Additionally, the net interest margin (NIM) increased by 3 bps QoQ to 3.47%.
As of 10:30 am, HDFC Bank shares were trading 2.56% higher at ₹1649.90.
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