HDFC Bank net profit rises 31%

Aided by robust growth in fee income, HDFC Bank posted a 31.1 per cent rise in net profits to Rs 199.6 crore for the second quarter ended Se...

Aided by robust growth in fee income, HDFC Bank posted a 31.1 per cent rise in net profits to Rs 199.6 crore for the second quarter ended September 2005, against Rs 152.2 crore in the corresponding quarter in the last year.

Total income grew by 47.9 per cent to Rs 1,283.1 crore as compared to Rs 867.4 crore in the reporting quarter last year.

The bank’s net interest income registered a growth of 43.8 per cent to Rs 612.1 crore (Rs 425.6 crore).

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Other income grew by a whopping 122.02 per cent to Rs 260.2 crore against Rs 122.72 crore last year.

The jump in the bank’s other income was backed by doubling of revenues from foreign exchange/derivatives transaction to Rs 28.4 crore (Rs 14.2 crore) and a 62 per cent rise in fees and commissions to Rs 217.8 crore (Rs 133.9 crore).

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