eported a 20 per cent increase in net profit for the quarter ended June 2020 over the same period last year. The lender reported net profit of Rs 6,658.62 crore in Q1 FY21 over Rs 5,568.16 crore reported in the same quarter last year.

The private sector lender's net revenue grew 8 per cent year-on-year to Rs 19,740.7 crore from Rs 18,264.5 in the same quarter last year.

Net interest income -- difference between interest earned and interest expended -- was up by 17.8 per cent to Rs 15,665.40 crore. The bank saw a 20.9 per cent growth in interests and 24.6 per cent increase in deposits. HDFC Bank's net interest margin stood at 4.3 per cent -- same as last year's.

Provisions for the quarter rose nearly 49 per cent to Rs 3,891.5 crore against last year's Rs 2,613.7 crore. Specific loan loss provisions amounted to Rs 2,739.8 crore while general and other provisions stood at Rs 1,151.7 crore.

The bank's asset quality improved with gross bad loan ratio declining 4 bps year-on-year to 1.36 per cent. Net NPA ratio declined 10 bps to 0.33 per cent. However, its gross bad loan ratio was up 10 bps compared to the March quarter of FY20.

HDFC Bank's total deposits as of June 30 were Rs 1,189,387 crore -- an increase of 24.6 per cent from last year. CASA (current account to savings account) deposits increased by 26 per cent. Savings account deposits in the bank stood at Rs 327,358 crore while current account deposits was at Rs 150,077 crore.

The bank said that it is granting a second three-month moratorium on installments or interests between June and August. "For all such accounts where the moratorium is granted, the asset classification shall remain stand still during the moratorium period (i.e. the number of days past-due shall exclude the moratorium period for the purposes of determining whether an asset is non-performing)," it said.

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