HDB Financial Services Q1 Results Live Updates: Credit costs increase, asset quality deteriorates

HDB Financial Services Q1 Results Live Updates: HDB Financial Services, the unit of India's largest private sector lender, HDFC Bank Ltd. reported its June quarter results today, which was its first as a listed entity. Net profit for the quarter declined on a year-on-year basis, as did disbursements, which also declined compared to the March quarter. Net Interest Margins saw a marginal improvement compared to the same quarter last year. Follow for all the live updates.

HDB Financial Services Q1 Results Live Updates: HDB Financial Services, the unit of India's largest private sector lender, HDFC Bank Ltd. reported its June quarter results today, which was its first as a listed entity. Net profit for the quarter declined on a year-on-year basis, as did disbursements, which also declined compared to the March quarter. Net Interest Margins saw a marginal improvement compared to the same quarter last year. Asset quality saw deterioration with both Gross and Net NPAs rising from last quarter. Net Interest Income, or the lender's core income though, rose on a year-on-year basis. The stock had a very volatile trading session in the lead up to its earnings announcement, eventually closing with modest losses. Volumes though, were significantly lower on the stock, compared to the average volume over the last three sessions. Since its listing, the stock has continued to trade around its listing price of ₹840 per share, having made a post-listing high of ₹892. The stock may see a reaction in tomorrow's trading session. Watch this space for all the live updates.