Updated: April 18, 2021 2:23:36 am
HDFC Bank on Saturday reported a 18.17 per cent year-on-year growth in standalone net profit for the quarter ended March 2021 (Q4FY21) at Rs 8,186.5 crore, as against Rs 6,927.6 crore a year-ago period.
However, on a sequential basis, the standalone net profit declined 6.5 per cent compared with Rs 8,758 crore in the December quarter (Q3FY21). The bank’s board of directors decided against declaring any dividend for FY21, in wake of the second coronavirus wave.
The net profit for the financial year ended March 2021 was Rs 31,116.5 crore, rising 18.5 per cent over the financial year ended March 2020.
The bank said net interest income (NII) —- the difference between interest earned through lending and interest paid to depositors —- saw a 12.6 per cent rise to Rs 17,120 crore in the reporting quarter, compared to Rs 15,204 crore in the corresponding period last year.
According to the bank, total advances as of March 2021 were Rs 11,32,837 crore, an increase of 14.0 per cent over March 2020. Domestic advances grew by 14.1 per cent over March 2020.
As per regulatory segment classification, domestic retail loans grew by 6.7 per cent and domestic wholesale loans grew by 21.7 per cent. Total deposits as of March 2021 were Rs 13,35,060 crore, an increase of 16.3 per cent over March 2020.
Gross non-performing assets (NPAs) were at Rs 15,086 crore, or 1.32 per cent of gross advances, as of March 2021, compared to 1.38 per cent (proforma approach) as of December last year and 1.26 per cent as of March 2020. Net NPAs were at 0.40 per cent of net advances as of March 2021.
“The bank also continues to hold provisions as on March 31, 2021 against the potential impact of Covid-19 based on the information available at this point in time and the same are in excess of the RBI prescribed norms,” it said.
The bank held floating provisions of Rs 1,451 crore and contingent provisions of Rs 5,861 crore as of March 2021. Total provisions (comprising specific, floating, contingent and general provisions) were 153 per cent of the gross non-performing loans as on March 31, 2021.
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