In short: HDFC Bank's Q2 FY27 net interest income rose 9.7% to ₹34,619 crore from a year earlier, and net profit rose 4.7% to ₹19,510 crore. Net interest margin (on total assets) was 3.16%. In the first trading session after the results (19 Oct), the median NAV change was −1.1% for banking & financial services funds, −0.6% for Nifty Bank index funds and ETFs and −1.1% for Nifty 50 index funds. Treasury gains fell to ₹780 crore from ₹2,390 crore a year earlier; excluding them, the bank says net profit grew about 12.6%.
What changed in HDFC Bank's Q2 FY27 results
- Net interest income was ₹34,619 crore, up 9.7% from a year earlier and up 3.2% from the previous quarter.
- Net profit was ₹19,510 crore, up 4.7% from a year earlier and up 2.4% from the previous quarter.
- Operating profit before provisions was ₹29,483 crore, up 5.6% from a year earlier and up 4.7% from the previous quarter; provisions were ₹3,574 crore, against ₹3,501 crore a year earlier.
- Net interest margin (on total assets) was 3.16%.
- Net advances were ₹31,95,566 crore, up 16.4% from a year earlier and up 5.2% from the previous quarter.
- Deposits were ₹33,27,449 crore, up 18.8% from a year earlier and up 4.9% from the previous quarter.
- CASA ratio (period-end) was 31.6%, against 32.3% in the previous quarter.
- Gross NPA ratio was 1.11%, against 1.17% in the previous quarter and 1.24% a year earlier; net NPA ratio was 0.37%, against 0.41% in the previous quarter and 0.42% a year earlier.
- Credit cost for the quarter was 44 bps, as the bank reports it.
- Capital adequacy ratio was 18.87%, against 19.57% a quarter earlier and 19.96% a year earlier.
HDFC Bank Q2 FY27 results at a glance
| Metric | Q2 FY27 | Q1 FY27 | Q2 FY26 | QoQ | YoY |
|---|---|---|---|---|---|
| Net interest income (₹ crore) | 34,619 | 33,534 | 31,552 | +3.2% | +9.7% |
| Operating profit (₹ crore) | 29,483 | 28,168 | 27,924 | +4.7% | +5.6% |
| Provisions (₹ crore) | 3,574 | 3,060 | 3,501 | +16.8% | +2.1% |
| Net profit (₹ crore) | 19,510 | 19,060 | 18,641 | +2.4% | +4.7% |
| Net advances (₹ crore) | 31,95,566 | 30,37,303 | 27,46,360 | +5.2% | +16.4% |
| Deposits (₹ crore) | 33,27,449 | 31,70,830 | 28,01,789 | +4.9% | +18.8% |
| Net interest margin (on total assets) | 3.16% | – | – | – | – |
| CASA ratio (period-end) | 31.6% | 32.3% | – | −70 bps | – |
| Gross NPA ratio | 1.11% | 1.17% | 1.24% | −6 bps | −13 bps |
| Net NPA ratio | 0.37% | 0.41% | 0.42% | −4 bps | −5 bps |
| Capital adequacy ratio | 18.87% | 19.57% | 19.96% | −70 bps | −109 bps |
Genvest analysis
Net profit grew more slowly than net interest income, which rose 9.7% from a year earlier. Most of the gap is treasury: trading gains were ₹780 crore, against ₹2,390 crore in the September 2025 quarter, and the bank says profit excluding them grew about 12.6%. Fees and commissions rose to ₹9,690 crore from ₹8,840 crore, but total other income was ₹13,831 crore, against ₹14,350 crore a year earlier.
Net interest margin was 3.16% on total assets and 3.32% on interest-earning assets, against 3.26% on total assets in the June quarter. Operating expenses rose 5.5% from a year earlier to ₹18,967 crore, and the cost-to-income ratio was 39.1%. The bank had 2,10,109 employees, against 2,20,339 a year earlier.
Deposits grew faster than loans. Period-end deposits rose 18.8% from a year earlier, led by time deposits, up 22.8%; current and savings account deposits grew 10.8%, so their share of deposits fell to 31.6%. Average deposits rose 16.8% from a year earlier and 5.1% from the June quarter. Gross advances grew 16.3%: retail loans by 11.7%, small and mid-market enterprise loans by 23.5%, and corporate and other wholesale loans by 16.4%.
Bad loans kept falling. Excluding agricultural loans, the gross NPA ratio was 0.87%, against 0.91% in June and 0.99% a year earlier. The filing does not give a provision coverage ratio this quarter. The common equity tier 1 ratio was 17.1%.
How banking funds moved after HDFC Bank's results
Median one-day change in NAV between 16 Oct and 19 Oct, across the Direct-Growth plans in each group (all units for ETFs). NAVs capture the whole day's market, not only one company's results. ICICI Bank and Axis Bank also reported on 17 Oct, so the move reflects all three.
| Fund group | Median change | Funds |
|---|---|---|
| Banking & financial services funds | −1.13% | 25 |
| Nifty Bank index funds and ETFs | −0.64% | 24 |
| Nifty 50 index funds | −1.11% | 23 |
Source: AMFI daily NAVs.
What HDFC Bank's results mean for fund investors
- Banking funds. Banks are the largest holdings of banking and financial services funds, and each bank moves these funds in proportion to its weight in them. The largest banks carry far more weight than mid-sized ones.
- Index funds. Financial services is the largest sector in the Nifty 50, so results from the biggest banks also reach Nifty 50 index funds.
- Overlap. If you hold several banking funds, or bank shares alongside them, check how concentrated you are with the portfolio analyzer.
HDFC Bank Q2 FY27 results: questions
When did HDFC Bank announce Q2 FY27 results?
HDFC Bank announced its Q2 FY27 results on 17 October 2026.
What was HDFC Bank's Q2 FY27 net profit?
Net profit was ₹19,510 crore, up 4.7% from a year earlier and up 2.4% from the previous quarter.
What was HDFC Bank's Q2 FY27 net interest income?
Net interest income was ₹34,619 crore, up 9.7% from a year earlier and up 3.2% from the previous quarter.
What was HDFC Bank's gross NPA in Q2 FY27?
Gross NPA ratio was 1.11%, against 1.17% in the previous quarter and 1.24% a year earlier; net NPA ratio was 0.37%, against 0.41% in the previous quarter and 0.42% a year earlier.
What was HDFC Bank's net interest margin in Q2 FY27?
Net interest margin (on total assets) was 3.16%.
Other bank Q2 FY27 results
- RBL Bank Q2 FY27 results · 12 October 2026 · net profit +169.9% YoY
- HDFC Bank Q2 FY27 results · 17 October 2026 · net profit +4.7% YoY
- ICICI Bank Q2 FY27 results · 17 October 2026 · net profit +20.1% YoY
- Axis Bank Q2 FY27 results · 17 October 2026 · net profit +37.6% YoY
- IndusInd Bank Q2 FY27 results · 23 October 2026 · net profit against a ₹445 crore loss a year earlier
- Kotak Mahindra Bank Q2 FY27 results · 24 October 2026 · net profit +29.5% YoY
- IDFC First Bank Q2 FY27 results · 24 October 2026 · net profit +196.5% YoY
All bank Q2 FY27 results in one place
Sources
- HDFC Bank: outcome of board meeting, Q2 FY27 results and news release, 17 October 2026
- HDFC Bank: Q1 FY27 results and press release (Form 6-K), July 2026
- HDFC Bank: intimation of board meeting, 22 September 2026
- AMFI daily NAVs, 19 Oct.
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