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HDFC Bank Q1 net profit up 31%

HDFC Bank today reported 30.6 per cent growth in net profit to Rs 1,417.4 cr

Written by Agencies | Mumbai | Published: July 13, 2012 3:26:25 pm

Private sector lender HDFC Bank today reported 30.6 per cent growth in net profit to Rs 1,417.4 crore for the first quarter ended June,2012.

The bank had earned net profit of Rs 1,085 crore in the April-June quarter of the 2011-12 fiscal,HDFC Bank informed the BSE.

The result showed total income of the bank rose to Rs 9,536.9 crore in the April-June quarter,from Rs 7,098 crore in the same period last year — an increase of 34.3 per cent.

The bank’s net interest income went up by 22.3 per cent to Rs 3,484.1 crore in the quarter.

The net interest margin for the bank was 4.3 per cent driven by 21.5 per cent rise in loan growth.

Furthermore,the bank’s overall balance sheet size grew by 25.9 per cent to Rs 3,60,001 crore at the end of June.

As of June 30,2012,HDFC Bank’s portfolio quality remained healthy,with gross non-performing assets (NPAs) at 1 per cent of gross advances and net non-performing assets at 0.2 per cent of net advances.

The bank’s Capital Adequacy Ratio (CAR) as of June 30 stood at 15.5 per cent.

Shares of HDFC Bank were trading at Rs 584.40 apiece in the afternoon on the BSE,up 0.78 per cent.

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