HDFC Bank on Wednesday reported a 30.1 per cent growth in its net profit for the quarter ended June 2013 on the back of a healthy growth in its net interest income and a strong growth in the retail advances. The banks net profit for the quarter stood at Rs 1,843.9 crore up from Rs 1,417.4 crore in the corresponding quarter last year. The bank witnessed growth on revenue front as its total income rose by 18 per cent to Rs 11,588.6 crore and its net interest income witnessed a strong year on year growth of 21 per cent at Rs 4,418.7 crore in the quarter ended June 2013. The bank,however,witnessed a rise in its gross and net NPAs during the quarter which resulted in weak reaction at the stock markets on Wednesday. While the gross NPA as a per cent of gross advances remained stable at 1 per cent,in absolute terms it rose from Rs 2,334 crore in March 2013 to Rs 2,719 crore in June 2013. The net NPA for the bank rose to 0.3 per cent of the net advances (Rs 689 crore) up from 0.2 per cent (Rs 468.9 crore) in the quarter ended March 2013. In absolute terms the net NPA rose by 47 per cent.
