HDFC Bank 9.1% profit to ₹19,221cr as NII misses estimates
Business
HDFC Bank just posted a 9.1% jump in net profit for the last quarter, hitting ₹19,221 crore, slightly above what analysts expected.
But its net interest income (NII), which is basically what the bank earns from lending, grew only 3.8% and missed estimates.
NPAs ease, ₹13/share dividend proposed
On the bright side, the bank's bad loans (NPAs) are down a bit, showing healthier finances.
They've also proposed a ₹13-per-share dividend.
Still, investors seem cautious: HDFC Bank's stock barely moved after the results and has dropped 19.3% this year, so far despite these steady profits.