MUMBAI - HDFC Bank, one of India's leading private sector banks, reported a marginal increase in its net profit for the third quarter, even as its shares witnessed a notable decline on the National Stock Exchange (NSE) in India today. The bank's net profit rose to Rs 16,372.54 crore, a slight uptick from the previous quarter's performance.
In a surprising turn for the bank's stock on Wednesday, shares fell by 8.4%, closing at Rs 1,537.50 on the NSE. This considerable drop in share value reflects investor reactions to the bank's latest financial disclosures.
Despite the downturn in its share price yesterday, HDFC Bank's asset quality showed mixed signals, with its gross non-performing assets (NPAs) increasing to 1.26%. However, there was a silver lining as the net NPA figure improved, coming in at 0.31%.
In light of these developments, some brokerage firms maintain a positive outlook on HDFC Bank, recommending it as a viable option for long-term investment despite the current market response.
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