7 November 2026 | Curated by Gurdeep Singh, Amritsar, Punjab
HDFC Bank reported a 4.7% year-on-year rise in standalone net profit to ₹19,510 crore for the July–September 2026 quarter (Q2 FY27). The bank’s core interest income grew faster than profit, while lower treasury trading gains, higher operating expenses and provisions moderated the overall increase.
Standalone performance: the key numbers
Net profit: ₹19,510 crore, up 4.7% from ₹18,641 crore a year earlier.
Net interest income (NII): ₹34,620 crore, up 9.7% year on year from ₹31,550 crore.
Net revenue: ₹48,450 crore, compared with ₹45,900 crore a year earlier, an increase of about 5.5%.
Net interest margin: 3.16% of total assets; 3.32% on interest-earning assets.
Other income: ₹13,830 crore, down around 3.6% year on year.
Operating expenses: ₹18,970 crore, against ₹17,980 crore in Q2 FY26.
Provisions and contingencies: approximately ₹3,570 crore.
These are standalone figures. They should not be mixed with the bank’s consolidated results, which include subsidiaries and associates.
Why did profit growth trail NII growth?
Core lending income remained a support, but other income was weaker. Treasury trading gains fell to ₹780 crore from ₹2,390 crore in the year-ago quarter. Fees and commissions increased to ₹9,690 crore from ₹8,840 crore, while foreign exchange and derivatives revenue was ₹1,550 crore compared with ₹1,590 crore.
Operating expenses also increased, and provisions were higher than in the preceding quarter. These factors help explain why a 9.7% rise in NII translated into a more moderate 4.7% increase in standalone net profit.
Asset quality and loan growth
Gross NPA ratio: 1.11%, improving from 1.24% a year earlier and 1.17% in the June 2026 quarter.
Net NPA ratio: 0.37% of net advances.
Gross advances: approximately ₹32.2 lakh crore, up 16.3% year on year.
Total deposits: approximately ₹33.27 lakh crore, up 18.8% year on year.
Retail advances grew 11.7%, loans to small and mid-market enterprises rose 23.5%, and corporate and other wholesale advances increased 16.4%. The deposit growth rate exceeded the reported growth in advances, although the mix and cost of deposits remain important to monitor.
Consolidated results: keep the basis clear
On a consolidated basis, HDFC Bank reported net profit of approximately ₹20,700 crore and net revenue of about ₹78,690 crore for Q2 FY27. These figures are not directly interchangeable with the standalone net profit and revenue figures above.
What investors should watch
The next results will be judged on the sustainability of NII growth, deposit mobilisation and funding costs, margin trends, credit costs, asset quality and the contribution of non-interest income. The decline in treasury gains is a reminder that quarterly profit can move differently from core banking income.
HDFC Bank’s Q2 FY27 performance shows healthy growth in core interest income and improving reported asset quality, but profit growth remained more modest. Investors should review the complete exchange filing and management commentary rather than relying on a single headline metric.
Disclaimer: This article is for news and general information only. It is not investment advice or a recommendation to buy, hold or sell any security. Figures are based on the bank’s Q2 FY27 disclosures for the quarter ended 30 September 2026.
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