Mumbai: Private sector lender HDFC Bank on Saturday reported a net profit of ₹6,345 crore for the September quarter of FY20, up 26.7% year-on-year due to higher interest income and other income. This, despite the bank witnessing a 48% y-o-y jump in total provisions to ₹2,700 crore. Of the total provisions, ₹2,038 crore was for loan loss provisions, the bank said in a regulatory filing. The bank's total income for the quarter ended 30 September stood at ₹33,755 crore, growing 19.6% from ₹28,215.2 crore in the corresponding quarter of the previous fiscal. HDFC Bank’s other income at ₹5,588.7 crore grew by 39.2% over the corresponding quarter ended 30 September, 2018.

Source: Mint October 19, 2019 12:10 UTC