HDFC Bank declares Q1 financial results

The Board of Directors of HDFC Bank approved the Bank’s results for the quarter ended June 30 at their meeting held in Mumbai on Saturday.

The Bank’s total income for the quarter ended June 30, 2019 at Rs 32,361.8 crore grew by 22.7% from Rs 26,367 crore for the quarter ended June 30, 2018. Net revenues (net interest income plus other income) increased by 24.8% to 18,264.5 crore for the quarter ended June 30, 2019 from 14,631.6 crore in the corresponding quarter of the previous year. Net interest income (interest earned less interest expended) for the quarter ended June 30, 2019 grew by 22.9% to `13,294.3 crore, from `10,813.6 crore for the quarter ended June 30, 2018, driven by asset growth and a core net interest margin for the quarter of 4.3%.

Other income (non-interest revenue) at `4,970.3 crore was 27.2% of the net revenues for the quarter ended June 30, 2019 and grew by 30.2% over `3,818.1 crore in the corresponding quarter ended June 30, 2018.