HDFC Bank Q1 net profit rises, falls short of estimates
24 July, 2017, 10:28 | Author: Pamela Mathis
Mumbai, Jul 24 Private sector lender HDFC Bank today reported 20.22 per cent increase in net profit to Rs 3,893.84 crore for the quarter ended on June 30, 2017, compared to the same period past year. The profit falls short of estimates as 21 analysts polled by Thomson Reuters had projected an average estimate of Rs 3,938 crore.
The bank's provisioning for non-performing assets (NPAs) shot up 63 percent annually to Rs.411 crore in Q1 from Rs 253 crore in the like period a year ago and 19 percent sequentially from Rs 345 crore a quarter ago.
Net NPA for the quarter, caome in at 0.44 per cent, compared with 0.33 per cent in the March quarter.
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Total income of the bank rose to Rs 1,790.53 crore in April-June 2017, from Rs 1,789.05 crore in the year ago period, the bank said in a regulatory filing.
On sequential basis, net profit was lower by nearly 76 crore from Rs 34.46 crore, while total income declined 5.3 per cent from Rs 260.97 crore in the January-March 2017 quarter. "The revenue for Q1 FY2017 includes revenue from services rendered to ICICI Bank aggregating to Rs 41.91 crore, which was discontinued in end July 2016", it said.
He was at 11-under 199, breaking by six shots the 54-hole record at Royal Birkdale that Tom Watson set in 1983. Having suffered only four bogeys across his first three rounds, Spieth found three in his first four holes.
The Boy Scouts of America report that having the president at the National Jamboree continues a long tradition. Senate President Mitch Carmichael, R-Jackson said he is happy the president is visiting the Mountain State.
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Ultimately, Spieth hit 3-iron short of the green and got up and down for bogey to fall one shot behind Kuchar. Between his ball and the green was some 250 yards over a tall hill, making it a blind shot.
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China has been long pressing the statements demanding the withdrawal of Indian troops and accusing India of trespassing in Doklam. Qian's comments come amid a standoff between Indian and Chinese armies in the Doklam area of Sikkim.
The pipeline company reported $0.37 earnings per share for the quarter, hitting the Thomson Reuters' consensus estimate of $0.37. EQT Midstream Partners, "s quarterly revenue was up 9.5% on a year-over-year basis". 169,265 shares of the stock traded hands.
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