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HDFC Bank net profit rises 20% to Rs 5,586 crore after Q3 results :-

Private lender Hdfc Bank declared their December quarter results on Sunday with a rise of 20.3% net profit to Rs 5,586 crore. The bank met profit estimates by net interest income and other income. Year ago profit of same quarter was Rs 4,643 crore. The bank had made a contingency of Rs 335 crore during the quarter on account of anticipated losses in the agriculture portfolio. The bank’s provision coverage ratio as on December 31, 2018 was 70 per cent. Total deposits for the quarter grew 22 per cent to Rs 8.52 trillion, while total advances grew 24 per cent to Rs 7.8 trillion over the year-ago period.
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