HDFC Bank’s net profit increases by 51%.

HDFC Bank’s standalone net profit increased by 50.6% to Rs 15,976 crore in the quarter that ended in September.

This is the bank’s first quarterly financial result following its July 1 merger with HDFC Ltd. However, because the two entities used different accounting standards, the second quarter’s financial results cannot be compared to the same period in the previous fiscal year, according to Srinivasan Vaidyanathan, the bank’s chief financial officer.

The lender revealed that its consolidated profit after tax (PAT) increased by 51.1% to Rs 16,811 crore during the September quarter. At 27,928 crore, the net profit increased by 41% on a half-yearly basis.

“Our portfolio is still strong, and the credit environment is benign. When compared to our 3, 6, and 12 months ago, our NPA ratio of 1.34 percent is quite strong and healthy, and it has improved, Vaidyanathan told reporters.