HDFC Bank shares hit record high on robust Q3 earnings

Shares of HDFC Bank surged to a record high on Monday on the back of strong earnings reported for the October-December quarter.

Its shares on the BSE touched an all-time high of Rs 1,503 per share. The bank’s stock price, however, is off highs now, and around 12.20 p.m., the scrip was trading Rs 1,483.40, higher by Rs 17.05 or 1.16 per cent from its previous close.

On Saturday, the lending major reported an 18.1 per cent increase in standalone net profit for the quarter ended December 31 of FY21 on a year-on-year basis.

The bank’s net profit for the third quarter of FY21 rose to Rs 8,758.3 crore on a year-on-year basis.

The bank’s net revenues (net interest income plus other income) grew to Rs 23,760.8 crore during the period under review from Rs 20,842.2 crore for the quarter ended December 31, 2019.

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