
HDFC Bank reported a 2% decline in net profit for Q1, which fell to ₹16,175 crore from ₹16,511.9 crore in the previous quarter.
Net interest income (NII) showed a modest increase of 2.6%, rising to ₹29,837.1 crore from ₹29,078 crore quarter-on-quarter.
Provisions dropped significantly to ₹2,602 crore from ₹13,511.64 crore in the previous quarter.
The bank’s slippages improved, with the figure not reported this quarter compared to ₹7,300 crore in the last quarter.
However, asset quality deteriorated slightly. Gross non-performing assets (NPA) increased to ₹33,026 crore from ₹31,173.3 crore quarter-on-quarter, while net NPA rose to ₹9,508.4 crore from ₹8,091.7 crore.
The gross NPA ratio edged up to 1.33% from 1.24%, and the net NPA ratio increased to 0.39% from 0.33%.