HDFC Bank reports its Results for Q3FY17
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HDFC Bank reported its results for the quarter ended 31st December 2016 on 24th January 2017.
The Bank's total income for the quarter ended 31st December 2016 was Rs 20748.3 crores, up from Rs 18283.3 crores for the quarter ended 31st December 2015. Net Revenues (net interest income plus other income) increased by 15.2 per cent to Rs 11451.8 crores for the quarter ended 31st December 2016 as against Rs 9940.7 crores for the corresponding quarter of the previous year.
Net interest income (net earned less interest expended) for the quarter under review grew by 17.6 per cent to Rs 8309.1 crores from Rs 7068.5 crores for the quarter ended 31st December 2015, driven by average assets growth of 18.6 per cent and a net margin for the quarter of 4.1 per cent.
Other income (non interest revenue) at Rs 3142.7 crores was 27.4 per cent of the net revenues for the quarter ended 31st December 2016 and grew by 9.4 per cent over Rs 2872.2 crores in the corresponding quarter ended 31st December 2015.
HDFC Bank (Housing Development Finance Corporation) is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. It has about 87,555 employees and has a presence in Bahrain, Hong Kong along with Dubai. HDFC Bank is the first largest private bank in India as measured by assets. It is the largest bank in India by market capitalization as of February 2016. It was ranked 69th in 2016 BrandZTM Top 100 Most Valuable Global Brands.
At 2 PM HDFC Bank share price was trading at Rs 1,284.15 apiece on NSE. A total of 9,01,469 shares of the company have been traded on the counter of NSE for a total traded value of Rs 11,574.59 lacs. The Lower Price Band is 1,162.75 and the Upper Price Band is 1,421.05.
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