HDFC Bank Q3 profit up 18%, here are highlights of analyst call
Cost to income ratio is expected to be back to 38-39 percent in the short term but in the medium term, the management intends to bring it down again.
January 18, 2021 / 05:36 PM IST
HDFC Bank on January 16 reported a standalone profit of Rs 8,758.3 crore for the quarter ended December 2020, which was up 18.1 percent higher than the previous year and beat the CNBC-TV18 poll estimate of Rs 8,264.8 crore.
The growth was led by non-interest income and pre-provision operating profit with improved asset quality performance.
Its net interest income, the difference between interest earned and interest expended, grew by 15.1 percent to Rs 16,317.6 crore in Q3FY21, compared to the corresponding period, driven by advances growth of 15.6 percent, and a core net interest margin for the quarter of 4.2 percent.
Also Read - HDFC Bank Q3 profit jumps 18% to Rs 8,758 crore, asset quality improves sequentiallyHere are the highlights of HDFC Bank's Q3 FY20 earnings call compiled by Narnolia Financial Advisors: