New Delhi sources have stated that private lender HDFC Bank on reported a 20.1% growth in net profit to Rs 4,642.6 crore for the third quarter of the current fiscal. Recently the private sector bank had posted a net profit of Rs 3,865.33 crore in the October-December quarter of last fiscal.
Sources have stated that the total income rose to Rs 24,450.44 crore during the December quarter, up 17.84% from Rs 20,748.27 crore in the year-ago period. Meanwhile the net interest income grew by 24.1% to Rs 10,314.3 crore during the quarter under review from Rs 8,309.1 crore reported in the corresponding quarter a year ago. Further HDFC Bank's net interest margin stood at 4.3% for the quarter.
Accordingly
the net non-performing assets (NPAs) as a percentage of total loans rose
marginally to 0.44% at the end of December, from 0.32% in same period last
year. Moreover the HDFC Bank's provisions (other than tax) and contingencies
increased to Rs 1,351.44 crore as against Rs 715.78 crore reported in the
corresponding period a year ago and also the shares of HDFC Bank were trading
at Rs 1,944.30, up 0.65% on the BSE.
