Stories
Stocks to Watch on Monday: Big movement expected in these 5 banking stocks.
- •HDFC Bank reported a 4.7 percent increase in net profit reaching 19,510 crore rupees for the September quarter.
- •Axis Bank showed a strong performance with a 37.6 percent jump in net profit to 7,003 crore rupees.
- •ICICI Bank recorded a 20.1 percent rise in net profit, totaling 14,843 crore rupees.
- •Punjab National Bank saw its net profit grow by 12.8 percent to 5,532.2 crore rupees.
- •Yes Bank posted a significant 65.14 percent surge in net profit, reaching 1,080 crore rupees.
Key Questions Answered
HDFC Bank reported a 4.7 percent increase in net profit, reaching 19,510 crore rupees, alongside a 9.7 percent rise in net interest income for the September quarter. However, its net interest margin dropped to a record low of 3.16 percent, and treasury trading income fell 67.4 percent year-on-year.
Axis Bank saw its net profit jump 37.6 percent year-on-year to 7,003 crore rupees, while its net interest income grew 11.8 percent to 15,372 crore rupees. The bank also experienced improvements in asset quality, exceeding initial market estimates.
Yes Bank posted a significant 65.14 percent surge in net profit to 1,080 crore rupees for the September quarter. Its net interest income increased by 22.7 percent to 2,822 crore rupees, and its non-performing assets improved from 1.3 percent down to 1.2 percent.
