HDFC Bank, the country's largest lender by market cap, has reported a profit at Rs 6,927.69 crore for the quarter ended March 2020. It was lower than the average of estimates of analysts polled by CNBC-TV18 which was pegged at Rs 7,228.9 crore.
Net interest income, the difference between interest earned and interest expended, stood at Rs 15,204.06 crore for the quarter, against CNBC-TV18 poll estimates of Rs 14,972.7 crore.
The private sector lender registered a strong business growth during the quarter and continued to gained market share as deposits grew by 24.2 percent year-on-year (up 7.4 percent QoQ) to Rs 11,46,500 crore, the second best in last 15 quarters.
The bank immediately after the end of March quarter said advances aggregated to approximately Rs 9,93,000 crore as of March 2020, a growth of 21.2 percent as compared to Rs 8,19,400 crore as of March 2019 (Rs 9,36,000 crore as of December 2019).
CASA ratio stood at around 42 percent in March quarter as compared to 42.4 percent in year-ago period and 39.5 percent in previous quarter, it added.
During the quarter ended March 2020, HDFC Bank said it purchased loans aggregating Rs 5,479 crore through the direct assignment route under the home loan arrangement with parent company Housing Development Finance Corporation.
During the quarter, mutual funds increased their stake in the bank to 15.01 percent (from 14.38 percent in December quarter) and LIC also raised its stake to 3.04 percent from 2.74 percent in similar period.
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