Mumbai — HDFC Bank, India's largest private-sector lender, on Saturday reported a standalone net profit of Rs 19,510 crore for the September quarter, up 4.7% from a year earlier but marginally below analyst expectations, as a sharp fall in treasury income and higher provisions offset strong lending growth.
Profit came in at Rs 195.10 billion against Rs 186.41 billion in the year-ago period, according to Reuters. Analysts had estimated Rs 195.26 billion, per LSEG data — a narrow miss. CNBC-TV18's poll had pegged profit at Rs 19,567 crore and Bloomberg at Rs 19,606 crore. Excluding treasury gains, profit grew 12.6% year-on-year, BusinessToday reported.
Lending strong, treasury weak
Net interest income rose 9.7% to Rs 34,620 crore, just under the Rs 34,861 crore poll estimate. Gross advances grew 16.3% to Rs 32.19 lakh crore and deposits 18.8% to Rs 33.27 lakh crore, with the credit-to-deposit ratio at 96.0%. Net interest margin slipped to 3.16% of total assets — a record low, per CNBC-TV18, down from 3.26% in the June quarter.
Treasury trading gains collapsed to Rs 780 crore from Rs 2,390 crore a year earlier, and other income fell 3.6% to Rs 13,831 crore. Provisions for bad loans and contingencies rose 2.1% to Rs 3,574 crore.
Asset quality improved: the gross non-performing asset ratio eased to 1.11% at end-September from 1.17% in June, with net NPA at 0.37%. The bank's balance sheet stood at Rs 45.78 lakh crore with a capital adequacy ratio of 18.9%.
Leadership change ahead
The results come days before a leadership transition: Anup Bagchi, a veteran of the ICICI group, takes over as managing director and CEO for three years from October 27, becoming the bank's first external chief executive. Shares closed 0.3% higher at Rs 728.85 on Friday but are down about 27% so far in 2026.
Sources: Reuters | CNBC-TV18 | BusinessToday
Profit came in at Rs 195.10 billion against Rs 186.41 billion in the year-ago period, according to Reuters. Analysts had estimated Rs 195.26 billion, per LSEG data — a narrow miss. CNBC-TV18's poll had pegged profit at Rs 19,567 crore and Bloomberg at Rs 19,606 crore. Excluding treasury gains, profit grew 12.6% year-on-year, BusinessToday reported.
Lending strong, treasury weak
Net interest income rose 9.7% to Rs 34,620 crore, just under the Rs 34,861 crore poll estimate. Gross advances grew 16.3% to Rs 32.19 lakh crore and deposits 18.8% to Rs 33.27 lakh crore, with the credit-to-deposit ratio at 96.0%. Net interest margin slipped to 3.16% of total assets — a record low, per CNBC-TV18, down from 3.26% in the June quarter.
Treasury trading gains collapsed to Rs 780 crore from Rs 2,390 crore a year earlier, and other income fell 3.6% to Rs 13,831 crore. Provisions for bad loans and contingencies rose 2.1% to Rs 3,574 crore.
Asset quality improved: the gross non-performing asset ratio eased to 1.11% at end-September from 1.17% in June, with net NPA at 0.37%. The bank's balance sheet stood at Rs 45.78 lakh crore with a capital adequacy ratio of 18.9%.
Leadership change ahead
The results come days before a leadership transition: Anup Bagchi, a veteran of the ICICI group, takes over as managing director and CEO for three years from October 27, becoming the bank's first external chief executive. Shares closed 0.3% higher at Rs 728.85 on Friday but are down about 27% so far in 2026.
Sources: Reuters | CNBC-TV18 | BusinessToday
