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HDFC Bank shares fall 2.3% as Q1 profit misses estimates

Shares of India's biggest lender by market-cap, HDFC Bank, fell as much as 2.3% to Rs 2,138.1, as Q4 profit missed estimates on higher provisioning. HDFC Bank had on Saturday reported an 18.2% increase in its net profit for the first quarter of the fiscal along with stable asset quality. Gross non-performing assets (GNPAs) stood at 1.33% of gross advances as on 30 June 2018, compared to 1.30% as on 31 March 2018 and 1.24% as on 30 June 2017. Net non-performing assets (NPAs) or bad loans were at 0.4% of net advances as on 30 June 2018, down from 0.44% a year ago. The lender's net profit increased to Rs 4,601.44 crore for the quarter ended June 30, 2018, against Rs 3,893.84 crore in the same period last fiscal.

Read More at The Hindu Business Line News date : 23 Jul 2018, Monday

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