The company's consolidated profit after tax for the quarter rose 51.1%. Earnings per share for the quarter ended September 30, 2023, was INR 22.2.

On a standalone basis, the Bank's net revenue rose by 33.1% Y/Y to INR 38,093 crore in the quarter. The company reported a net profit growth of 50.6% Y/Y to INR 15,976 crore.

Net interest income (interest earned less interest expended) grew 30.3% Y/Y to INR 27,385 crore, with a core net interest margin of 3.65% on total assets and 3.85% on interest earning assets. 

As of September 30, 2023, total deposits stood at INR 21,72,858 crore (+29.8% Y/Y), and gross advances came in at INR 23,54,633 crore (+57.7% Y/Y).

As of September 30, 2023, Tier 1 CAR stood at 17.8%, and Common Equity Tier 1 Capital ratio was at 17.3%.

Also, gross non-performing assets stood at 1.34% of gross advances as of September 30, 2023, vs 1.23% a year ago.

Price Action: HDB shares are trading higher by 1.94% at $59.33 on the last check Monday.