covid-19 2020 crisis

₹6,928 cr; provisions rise in wake of Covid-19

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The lender's provisions rose to ₹3,784.5 crore as against ₹3,043.6 crore in the previous quarter and ₹1,889 crore in the year-ago period Private lender HDFC Bank on Saturday reported 17.7% rise in standalone net profit in the quarter ending 31 March, 2020.

The net profit for the fourth quarter was ₹6,928 crore as against ₹5,885 crore in the year-ago period, the lender said in its stock exchange filing.

The lender's provisions rose to ₹3,784.5 crore as against ₹3,043.6 crore in the previous quarter and ₹1,889 crore in the year-ago period.

HDFC Bank reported 15.4% rise in Q4 consolidated net profit at ₹7,280.22 cr, up from ₹6,300.81 crore a year ago. Consolidated total income in Q4FY20 rose to ₹38,287 crore, from ₹33,260.48 crore a year ago.

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