HDFC Bank shares decline over 2 per cent post Q2FY27 earnings announcement

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Shares of HDFC Bank declined over 2 per cent on Monday after its September quarter earnings failed to cheer investors.

The stock dipped 2.20 per cent to Rs 712.05 on the BSE, despite a positive beginning. At the NSE, it edged lower by 2.31 per cent to Rs 712.

The country's largest private sector lender HDFC Bank on Saturday reported a 5.55 per cent increase in its consolidated net profit for the September quarter to Rs 20,700 crore, pointing out that the impact on treasury operations restricted profit growth.

The bank is in the middle of a leadership transition that will see ICICI Group veteran Anup Bagchi taking over as managing director and chief executive later this month, becoming the first outsider to don the mantle.

It also announced that incumbent Deputy Managing Director Kaizad Bharucha has decided to leave.
In the quarter under review, HDFC Bank's net profit grew 4.7 per cent to Rs 19,510 crore on a standalone basis.

The bank said excluding the treasury performance, the profit after tax showed a growth of 12.6 per cent year-on-year.

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