Top Indian Banks Q1 Results FY23: Net Profit Jumps by 50%

Top Indian Bank’s Q1 Results: Net profit of top Indian banks including ICICI Bank and Yes Bank has jumped by 50% YoY (Year on Year) to Rs 6,905 crore and Rs. 311 crore respectively for the quarter ended on 30 June 2022. Whereas HDFC Bank has reported 19% and Kotak Mahindra Bank 26% YoY rise in standalone net profit to Rs. 9,195.99 cr and Rs. 2,071 cr respectively in Q1 FY23.  

Q1 Results of top Indian banks

Listed below are the YoY growth, profit after tax (PAT) and net interest income (NII) of leading private sector banks in India for Q1 of financial year 2023. 

Bank NameQ1 FY23 YoY Growth (%) Profit after Tax (PAT) Q1 FY 23 – NII (Net Interest Income) Q1 FY22 – NII (Net Interest Income)
ICICI Bank50%Rs. 6,905 crRs. 13,210 crRs. 10,936 cr
Yes Bank50%Rs. 311 crRs 1,850.2 crRs 1,402.2 cr
HDFC Bank19%Rs. 9,195.99 crRs. 19,481.4 crRs. 17,009 cr
Kotak Mahindra Bank26%Rs 2,071 crRs. 4,697 crRs. 3,942 cr
Top Indian Bank’s Q1 Results

Most of the leading private sector banks registered phenomenal growth for the quarter ending June 30, 2022. 

Top Indian Banks Q1 Results FY23: Net Profit Jumps by 50%

ICICI Bank Q1 FY23 Results

ICICI Bank registered a 50% YoY growth in profit after tax (PAT) at Rs. 6,905 cr from Rs. 4,616 cr in the corresponding quarter last year. The bank’s net interest income (NII) rose 21% YoY to Rs. 13,210 cr from Rs. 10,936 cr during the same period last year. 

Yes Bank Q1 FY23 Results

Net profit of Yes Bank jumped by 50% YoY to PAT Rs. 311 cr for the first quarter of FY 23 vis-a-vis a gain of Rs 206.8 crore in the year-ago quarter. The net interest income of the bank grew by 31.9% year-on-year to Rs. 1,850.2 cr in Q1 FY23 from Rs 1,402.2 crore in the same quarter last year. 

HDFC Bank Q1 FY23 Results

HDFC Bank is the largest private sector bank in India. The bank reported a 19% YoY rise in net profit during Q1 FY23. Standalone net profit of the bank rose to Rs. 9,195.99 crore for this quarter from Rs. 7,729.64 crore in the corresponding quarter last year. The total revenue of HDFC Bank grew by 13% to Rs. 41,560.27 cr in June 2022 quarter as against Rs. 36,771.71 cr during June 2021 quarter. 

Kotak Mahindra Bank Q1 FY23 Results

Kotak Mahindra Bank reported a 26% year-on-year growth in profit after tax at Rs. 2,071.10 cr during the quarter ended June 30, 2022, which was Rs. 1,641.90 cr in Q1 F22. The bank’s net interest income in the recently ended June 2022 quarter has also grown by 19.20% to Rs. 4,697 cr from Rs. 3,942. cr in Q1FY22  

The banking sector is a major segment of the Indian economy or world economies for that matter. The phenomenal growth achieved by these leading banks reflect positively on the Indian market and restores investors’ faith, despite some recent ups and downs. You can invest in fixed deposits and mutual funds of Indian banks to get attractive returns.

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