The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter and nine months ended December 31, 2025, at its meeting held in Mumbai on Saturday, January 17, 2026. The accounts have been subjected to a ‘Limited Review’ by the statutory auditors of the Bank.
STANDALONE FINANCIAL RESULTS:
Profit & Loss Account: Quarter ended December 31, 2025
The Bank’s net revenue grew by 8.9% to ₹ 458.7 billion for the quarter ended December 31, 2025 from ₹ 421.1 billion for the quarter ended December 31, 2024.
Net interest income (interest earned less interest expended) for the quarter ended December 31, 2025 grew by 6.4% to ₹ 326.2 billion from ₹ 306.5 billion for the quarter ended December 31, 2024. Core net interest margin was at 3.35% on total assets, and 3.51% based on interest earning assets.
Other income (non-interest revenue) for the quarter ended December 31, 2025 was ₹ 132.5 billion. The four components of other income for the quarter ended December 31, 2025 were fees & commissions of ₹ 92.3 billion (₹ 81.8 billion in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of ₹ 14.3 billion (₹ 14.0 billion in the corresponding quarter of the previous year), net trading and mark to market gain of ₹ 9.3 billion (₹ 0.7 billion in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend of ₹ 16.6 billion (₹ 17.9 billion in the corresponding quarter of the previous year).
Operating expenses for the quarter ended December 31, 2025 were ₹ 187.7 billion. Operating expenses excluding the estimated impact of ₹ 8.0 billion for employee benefits under the New Labour Code were ₹ 179.7 billion, as against ₹ 171.1 billion during the corresponding quarter of the previous year. The core cost-to-income ratio for the quarter was at 39.2%.
Provisions and contingencies for the quarter ended December 31, 2025 were ₹ 28.4 billion (after release of contingent provisions of ₹ 10.4 billion primarily in respect of a large borrower group fulfilling certain conditions). The total credit cost ratio excluding the release of contingent provisions as stated above was at 0.55% for the quarter ended December 31, 2025.
Profit before tax (PBT) for the quarter ended December 31, 2025 was at ₹ 242.6 billion. Profit after tax (PAT) for the quarter was at ₹ 186.5 billion, a growth of 11.5% over the quarter ended December 31, 2024.