The shares of India's largest private sector bank, HDFC Bank, on Monday fell by over 4 per cent after reporting its June quarter earnings. Extending its 2026
decline, HDFC Bank stock declined 4.29 percent to Rs 784.45 in early trade. The crash has wiped out nearly Rs 70,000 crore in market value, even as brokerages remained bullish on the stock. HDFC Bank had ended Friday's session 1.4 percent higher at Rs 819.60, ahead of the earnings announcement. In its quarterly results, HDFC Bank announced a standalone net profit of Rs 19,060 crore for the April-June quarter, marking a 5 per cent increase from Rs 18,155 crore recorded in the same period of the previous financial year. HDFC Bank's net interest income (NII), which reflects the difference between interest earned and interest paid, rose 7 per cent year-on-year to Rs 33,534 crore in Q1 FY27 from Rs 31,438 crore a year earlier. HDFC Bank's gross non-performing assets (NPAs) declined by more than 3 per cent compared with the year-ago period to Rs 35,846 crore, reflecting an improvement in overall asset quality. HDFC Bank is soon likely to clear the reappointment of its managing director and chief executive officer (MD & CEO) as the board has discussed the matter, said deputy MD Kaizad Bharucha during the bank’s post-earnings media call. “The new chairman has just taken over. The GNRC and the board are seized of the matter and it is a work in progress. As soon as they are able to conclude, we will come out and inform all (stakeholders)…,” Bharucha said. HDFC Bank has recently received approval from the Reserve Bank of India (RBI) to appoint former Financial Services Secretary, Rajiv Kumar as its part-time chairman for a three-year term, effective July 15, 2026, bank said in a statement. MD & CEO Sashidhar Jagdishan’s three-year term ends in October, and he was appointed for a three-year term in 2020 and received a three-year extension in 2023.
