INVC NEWS
Mumbai – Many IT and banks have released the results of the second quarter of the current financial year. Today, the country’s largest banks HDFC Bank and Kotak Mahindra Bank have released the results (Q2 Result) for the July to September quarter. The impact of the quarterly results released by the bank will also be seen on the bank’s stock.
HDFC Bank Quarterly Result
HDFC Bank’s standalone profit increased by 5 percent to Rs 16,821 crore in the July to September quarter. At the same time, in the same quarter a year ago, the bank had a total profit of Rs 15,976 crore. If we talk about the bank’s income, it increased to Rs 85,500 crore this quarter, which was Rs 78,406 crore in the same quarter a year ago.
According to the stock filing, the bank earned an interest income of Rs 74,017 crore in the second quarter of the current financial year, which was Rs 67,698 crore in the second quarter of the year ago. The bank’s net interest income (NII) has also improved this quarter. The bank’s NII in the September quarter was Rs 30,110 crore, which was Rs 27,390 crore in the same quarter of the previous financial year. This means that the bank’s NII growth has been 10 percent.
The bank gave information about its non-performing assets. The bank’s NPA increased by 1.36 percent in the September quarter, which was 1.34 percent in the same quarter a year ago. This NPA is of good loans. At the same time, the NPA of bad loans has become 0.41 percent. Consolidatedly, the bank’s logged growth increased by 6 percent to Rs 17,826 crore.
HDFC Bank Shares
On October 18, 2024, HDFC Bank shares closed in the green. The bank’s shares closed at Rs 1,684.80 per share, up Rs 11.65 or 0.70 per cent. Talking about the stock performance of the bank, the stock has given a return of 11.21 per cent in the last one year. At the same time, the bank’s stock has risen 10.02 per cent since April.
Kotak Mahindra Bank Quarterly Results (Kotak Mahindra Bank Q2 Result)
Kotak Mahindra Bank’s net profit rose 5 per cent to Rs 3,344 crore in the July-September quarter, as against Rs 3,191 crore a year ago. At the same time, the total income of the bank was Rs 15,900 crore as against Rs 13,507 crore in the same quarter last year.
The bank told the stock market that its interest income stood at Rs 13,216 crore in the September quarter as against Rs 11,193 crore in the second quarter of FY 2023-24. Apart from this, the net interest income of the bank was also Rs 7,020 crore this quarter. The bank’s NPA in gross loans was 1.49 percent and in bad loans it was 0.43 percent.
Kotak Mahindra Bank shares
On Friday, Kotak Mahindra Bank shares rose 0.42 percent to close at Rs 1,871.85 per share. In the last one year, the bank’s shares have given a return of 7.67 percent and in the last six months, 4.42 percent.
