HDFC Bank profit jumps 12% to Rs 19,807 cr in Q3

Mumbai: HDFC Bank on Saturday said its consolidated profit jumped 12.17 per cent to Rs 19,807 crore in the December quarter.

The city-headquartered lender had reported a consolidated net profit of Rs 17,657 crore in the year-ago period and Rs 19,611 crore in the preceding September quarter.

On a standalone basis, the profit of the country's largest private sector lender increased 11.46 per cent to Rs 18,653.75 crore for the October-December period.

The core net interest income grew 6.4 per cent to Rs 32,600 crore, while the non-interest income came at Rs 13,250 crore, as per an exchange filing.

The net interest margin at the overall level stood at 3.35 per cent, it said.

Implementation of the new labour codes led to an impact of Rs 800 crore in expenses for the bank during the quarter.