HDFC Bank's Second Quarter Profit Surges 20%

The bank reported a 20.1 per cent jump in net profit to Rs 4,151 crore for the second quarter ended September 30, 2017-18 against Rs 3,455.3 crore profit in the July- September quarter of the last financial year.

Despite a spike in provisions and contingencies for the quarter ended September 30, 2017, HDFC Bank managed to meet analysts' expectation in second quarter earnings. The figures show an increase of 20% in the Year-on-Year profit calculation and the profit in the considered period has reached ₹4151 crores.

HDFC bank announced a 20% year on year rise in Net Profit to Rs 4,151 crore.

As a percentage of total loans, gross non-performing assets (NPAs) rose to 1.26% as compared to 1.24% in the previous quarter and 1.02% in the year-ago quarter. The NPA ration in the June quarter was 1.24% and 1.02% in the same time frame a year ago.

Net Interest Income (NII) or the total interest earned less interest expended grew by 22 percent for the quarter ended September which was slightly higher than a CNBC-TV18 poll of Rs9664.10 crore, driven by average asset growth of 17.6 percent and a core net margin for the quarter of 4.3 percent.

European Commission announces €106m in humanitarian aid to Sudan
Even as Sudan's humanitarian needs grow "day by day", Stylianides acknowledged that there were only limited funds available. Since then, 2.7 million people have uprooted in the region alone.

Microsoft Reveals First 13 Original Xbox One Backwards-Compatible Titles
Here's a video showcasing just how much better the game will look as well as the game's official description and shopping link. The only disadvantage, however, is that the 13 titles do not support online multiplayer.

Governor asks Trump to not deport Indonesian immigrants
Earlier this year, the Trump administration made a decision to terminate the program and others like it around the country. Written by NH1 News on October 23, 2017 10:55 am.

In a regulatory filing, the bank declared that other income increase by 24.3% in the given period.

Provisions and contingencies almost doubled to Rs 1,476.2 crore in Q2FY18, compared with Rs 748.99 crore in Q2FY17 but declined 5.3 percent on sequential basis.

Total advances growth was 22.3 per cent at Rs 6.04 lakh crore, compared with corresponding quarter last fiscal, it added. The advances were largely impacted by 21.6% growth in retail loans and 23.6% increase in loans of the wholesale sector.

The provisions for the September quarter consisted of specific loan loss provisions of Rs 1,078.8 crore and general and other provisions of Rs 397.4 crore.

The 4 components of other income include fees and commissions of Rs2614 crore, foreign exchange and derivative revenue of Rs384 crore, gain on revaluation/sale of investments of Rs355.90 crore, and miscellaneous income of Rs 252 crore.

Related News:

  • Nikkei Posts Record Streak as Abe Secures Election Win

    Nikkei Posts Record Streak as Abe Secures Election Win

    JAPAN MANUFACTURING: A survey of manufacturers showed activity weakened this month but still grew relatively strongly. A new Chinese leadership lineup is expected soon, as the Community Party congress wraps up.
    Shah Rukh Khan's fan and cancer patient Aruna PK passes away

    Shah Rukh Khan's fan and cancer patient Aruna PK passes away

    In a tweet, Shah Rukh expressed his deep condolences to the family and prayed that they have the strength to deal with the loss. Not the one to go back on his word, SRK took to Twitter to condole the death of his ardent fan and console her kids.
    Apple Pay - Now made possible for Mashreq's customers

    Apple Pay - Now made possible for Mashreq's customers

    This is particularly compelling in cases where cards themselves have not been enabled with contactless/NFC payment technology. Instead, a unique device account number is assigned, encrypted and stored in the "Secure Element" on your device.
  • Former student arraigned in Eastern Michigan graffiti case

    Former student arraigned in Eastern Michigan graffiti case

    More than 1,200 hours of video from more than 100 campus cameras was reviewed, as well as video from nearby businesses. The incidents led to protests by students, and the university offered a $10,000 reward for information.
    Max Verstappen hits out at 'idiot' F1 steward after US GP penalty

    Max Verstappen hits out at 'idiot' F1 steward after US GP penalty

    And what's happened? They've made an instant decision , and I think it's a shocking decision . It was the beginning of previous year [we agreed this].
    Nicaragua signs Paris Climate Agreement, leaving the USA  and Syria behind

    Nicaragua signs Paris Climate Agreement, leaving the USA and Syria behind

    The Nicaraguan government opted out of the global agreement in protest at its largely voluntary nature, arguing it was not ambitious enough and represented a " path to failure ".
  • Asian Paints shares gain over 4% after Q2 earnings

    Its revenue from home improvement segment was Rs 41.77 crore in Q2. The decorative business registered high single digit growth. This segment was impacted by destocking due to GST .

    Ibrahim Halawa arrives in Ireland today after four years in Egypt prison

    Irishman Ibrahim Halawa - who has spent the last four years of his life in an Egyptian prison - is set to arrive home to Ireland. His three sisters were later released on bail and allowed to return to Dublin, and were acquitted in abstentia.
    Israeli extremist leader arrested for allegedly threatening Jewish women dating Arab men

    Israeli extremist leader arrested for allegedly threatening Jewish women dating Arab men

    In April, six Israelis, including two soldiers, were arrested for racist attacks against Arabs with knives. They are descendants of Palestinians who remained on their land following the creation of Israel in 1948.
  • The Blackstone Group LP

    It turned negative, as 35 investors sold BX shares while 129 reduced holdings. 79 funds opened positions while 190 raised stakes. Jacobi Capital Management LLC purchased a new position in The Blackstone Group L.P.in the 2nd quarter valued at about $116,000.

    Henry Schein, Inc. (HSIC) Earns Hold Rating from Jefferies Group LLC

    Currently, 399.42 million total shares are owned by the public and among those 399.42 million shares have been available to trade. Deutsche Retail Bank Ag reported 293,929 shares stake. 2,458 were accumulated by Jacobson And Schmitt Advisors Ltd Liability Com.
    Charlotte Crosby Claims Stephen Bear Cheated On Her In Twitter Rant

    Charlotte Crosby Claims Stephen Bear Cheated On Her In Twitter Rant

    She later posted: "When you try and tell every1 some1 is different and you have there back thru and thru". He continued: "At the minute, everyone is saying I cheated, I'm the worst person in the world".


Most liked

Tag: Karbonn Titanium Jumbo Specifications
In terms of optics, the Titanium Jumbo features a 13MP sensor on the rear and an 8MP sensor on the front for selfies. While the MRP of the smartphone is mentioned as Rs. 7,490, the best buy price is quoted slightly lower at Rs. 6,490.

Phil Neville interested in manager's job after Ronald Koeman's sacking
Everton are likely to opt for someone with more experience, but Giggsy wants it, and not on a "technicaliteh". However, there are a lot of coaches out there who would be interested in those positions.

Anthony Joshua Names The Best Boxer In The World
Canelo avoids a shot from Golovkin. "It's because people like him and they're going to be entertained for their money". And I saw all that come into play when he fought Khan and when he fought Golovkin.

Fiona the hippo photobombs marriage proposal
She was six weeks premature and weighed about 25 pounds less than the lowest recorded birth weight for the species. The proposal was made extra special when the zoo's famous hippo Fiona chose to drop in for a photo.

Halep makes dominant start to WTA Finals campaign with victory over Garcia
I just want to win the matches that I'm playing here". "It didn't happen like I wanted to, but it's not finished yet", said Garcia.

Huge march in Berlin "against hatred and racism"
Glaser argued that freedom of religion shouldn't apply to Islam, which they say put him at odds with Germany's constitution. He has also said Muslims had forfeited their right to freedom of religion, as Islam did not respect that freedom.

New York Community Bancorp, Inc
New England Research & Management Inc. grew its position in shares of New York Community Bancorp by 1.5% in the 2nd quarter. Geode Cap Management Ltd Limited Liability Company has invested 0.02% in New York Community Bancorp, Inc. (NYSE:NYCB).

Giant balloons are delivering cell service to Puerto Rico
He said that the Loon team has never tried to deploy the project's connectivity from scratch in such a short time. Hurricane Maria devastated the USA territory of 3.4 million people since making landfall last month.

Kell Brook Laughs At Khan's Mayweather Call Out, Offers Him Alternative
KELL BROOK has told Amir Khan to stop playing "kiss-chase" with Floyd Mayweather and agree to an all-British boxing bout instead. Floyd is a great fighter I just hav (sic) something he's not faced, speed.

Quand le chien d'Emmanuel Macron urine sur le mobilier de l'Elysée
Lorsque Julien Denormandie le questionne au sujet de cette habitude, Macron lui a répondu que ça ne lui était pourtant pas familier.

Austrian conservative chief Kurz seeks coalition with right-wing Freedom Party
Earlier Friday, Kurz was officially asked by the country's President Alexander van der Bellen to form a new government . He is on track to become Europe's youngest leader.

Diana Shipping inc. (DSX) Given a $5.00 Price Target at Stifel Nicolaus
As of quarter end Ingalls & Snyder LLC had disposed of a total of 18,800 shares trimming its position 32.0%. Russell Investments Group Ltd. increased its stake in Diana Shipping inc.by 16.9% during the 2nd quarter.

Bristol City v Crystal Palace
It is expected the former England worldwide manager, who replaced Frank de Boer earlier in the season, will field a strong Palace line-up, however, he is also thought to be making changes.

Asian Cup: Thailand to host Malaysia-North Korea match
The first match is designated as North Korea's home game and the November 13 match will be Malaysia's home game. The games will be played on Nov 10 and 13, with the exact venue still to be determined.

Liverpool 'must' replace Klopp with Ancelotti now - Crooks
Coutinho has scored four goals in seven starts in the Champions League and the Premier League this season. Dejan Lovren had a shocker, and Simon Mignolet had a major flap for Harry Kane's second.