Monday, Oct 20, 2014

HDFC Bank Q1 Net up 21% to Rs 2,233 crore

HDFC Bank has reported a 21 per cent rise in profit for June quarter. HDFC Bank has reported a 21 per cent rise in profit for June quarter.
Press Trust of India | Mumbai | Posted: July 21, 2014 1:44 pm

Private sector lender HDFC Bank today reported 21.1 per cent growth in net profit to Rs 2,233 crore for the quarter ended June 2014.

The bank had earned a net profit of Rs 1,844 crore in the April-June quarter of 2013-14, HDFC Bank said in a statement.

The total income of the bank rose to Rs 13,070.65 crore during the quarter under review, against Rs 11,588.56 crore in the same period last year.

The net interest margin for the bank declined to 4.4 per cent in the April-June quarter, against 4.6 per cent in the same period of the previous year.

However, interest earned by the bank increased 16.1 per cent to Rs 11,220.1 crore from Rs 9,663.0 crore in the same quarter last year.

The bank’s other income (non-interest revenue) surged 26 per cent to Rs 1,850.6 crore for the April-June quarter.

As of June 30, HDFC Bank’s gross non-performing assets (NPAs) increased marginally to 1.07 per cent of gross advances, against 1.04 per cent at the end of first quarter of the last fiscal.

Net non-performing assets stood at 0.3 per cent of net advances as on June 30, 2014.

Shares of HDFC Bank were trading 0.55 per cent up at Rs 837 apiece during afternoon trade on the BSE.

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