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Rediff.com  » Business » HDFC Bank Q1 net zooms 20% to Rs 3,239 cr

HDFC Bank Q1 net zooms 20% to Rs 3,239 cr

Source: PTI
July 21, 2016 13:46 IST
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Total income rose to Rs 19,322.63 crore during the quarter under review, was up 17.08 as against Rs 16,502.97 crore.

Private sector lender HDFC Bank on Thursday reported a 20.15 per cent increase in net profit to Rs 3,238.91 crore for the quarter ended June 30.

The bank had earned a profit of Rs 2,695.72 crore (Rs 26.95 billion) in the April-June quarter last fiscal.

Total income rose to Rs 19,322.63 crore (Rs 193.22 billion) during the quarter under review, was up 17.08 as against Rs 16,502.97 crore (Rs 165.02 billion)  in the same period last year, HDFC Bank said in a BSE filing.

Net interest income grew 21.8 per cent to Rs 7,781.4 crore (Rs 77.81 billion) from Rs 6,388.8 crore (Rs 63.88 billion) last year.

The bank's other income (non-interest revenue) went up by 14 per cent to Rs 2,806.6 crore (Rs 28.06 billion) for the April-June quarter. It accounted for 26.5 per cent of net revenues.

As of June 30, HDFC Bank's gross non-performing assets (NPAs) increased marginally to 1.04 per cent of gross advances as against 0.95 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. The net interest margin for the bank stood at 4.4 per cent first quarter of the current fiscal.

Shares of HDFC Bank were trading 0.58 per cent lower at Rs 1,224.95 during afternoon trade on BSE. 

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