HDFC Bank's Q1 net profit rises 19% to Rs 9,195.99 cr, NII grows 14.5%

HDFC Bank on Saturday reported a 19 per cent year-on-year increase in its standalone net profit at Rs 9,196 crore in the quarter ending June (Q1), after providing Rs 2,984 crore for taxation.

During the same period last year, the net profit of the country’s largest private bank stood at Rs 7,729.64 crore. On a sequential basis, however, HDFC Bank’s net profit declined from Rs 10,055.18 crore in January-March.

The bank’s pre-provision operating profit was at Rs 15,367.8 crore in Q1FY23.

For the quarter ending June, the bank’s net interest income, the difference between the interest earned and the interest