HDFC Bank, India's largest private lender, reported a 5% year-over-year increase in standalone net profit. Net profit reached ₹19,060 crore for the first quarter of FY27. This figure slightly missed analyst estimates.
The bank's net interest income (NII) rose 6.7% to ₹33,534 crore. The prior year's profit included a one-time gain from the HDB Financial Services stake sale. Adjusted for this, net profit growth was closer to 10%.
Asset quality remained relatively stable. The gross non-performing assets (NPA) ratio stood at 1.17%. This marked a slight increase from the previous quarter's 1.15%. It improved from 1.40% a year earlier.
Provisions for bad loans saw a steep 79% year-over-year decline. CEO Sashidhar Jagdishan stated the bank navigated a tough period. He emphasized strengthening its franchise for the next stage of growth.