HDFC Bank shares gain over 2%; mcap surges by Rs 8,918 crore

New Delhi: Shares of HDFC Bank on Friday rose by over 2 percent, adding Rs 8,918 crore to its market valuation, after the company reported an 18.2 percent growth in net profit for the March quarter.

The stock gained 2.38 percent to end at Rs 1,496.75 on BSE. During the day, it rose by 2.60 percent to Rs 1,500, its 52-week high level.

On NSE, it jumped 2.35 percent to close at Rs 1,496.60.

The company's market valuation rose by Rs 8,918.03 crore to Rs 3,83,549.03 crore.

In terms of volume, 5.15 lakh shares of the company were traded on BSE and over 43 lakh shares changed hands on NSE during the day.

HDFC Bank today reported an 18.2 percent growth in net profit at Rs 3,990 crore for the March quarter.

The country's second largest private sector lender had posted a net profit of Rs 3,374 crore in the January-March period of 2015-16 fiscal.

Bad loans provisioning rose sharply during the quarter to Rs 1,261 crore, up from Rs 662 crore in the January-March period of 2015-16, it said in a BSE filing.

Total income during the fourth quarter rose to Rs 21,560 crore, up from Rs 18,862 crore in the same quarter of the previous fiscal.

For full 2016-17 fiscal, HDFC Bank reported a net profit of Rs 14,549 crore, a growth of 18.3 percent over the previous financial year.

Gross non-performing assets (NPA) of the bank as a percentage of total advances rose to 1.05 percent during the March quarter, from 0.94 percent in the same quarter of 2015-16 fiscal.