Q2 Results: HDFC Bank Meets Expectations; Axis Bank Feels the Heat!

In the September quarter, HDFC Bank has announced a 24.7% rise in its consolidated net profit at Rs 6,638.03 crore. Its consolidated total income has increased to Rs 36, 130.96 crores from 30, 124.49 crore a year ago.

As of September 30, 2019, the bank has a total deposit of 1, 021, 615 crore which is 26% higher than the previous year.

On the other hand, Axis bank has reported a net loss of Rs 112.1 crore in the September quarter due to a one-time tax impact of Rs 2,138 crore. In the same quarter last year, the bank had a profit of Rs 789.6 crore.

Gross NPA (Non-Performing Assets) and Net NPA ratios of Axis Bank stood at 5.03% and 1.99% respectively for the September quarter. In the June quarter, the numbers were 5.25% and 2.04%.