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Rediff News  All News  » Business » HDFC Bank Q3 net up 25% to Rs 2,326 cr

HDFC Bank Q3 net up 25% to Rs 2,326 cr

January 17, 2014 15:39 IST

HDFC BankHDFC Bank on Friday reported 25.1 per cent jump in net profit to Rs 2,325.70 crore (Rs 23.25 billion) for the third quarter ended December, 2013-14 fiscal.

It had posted net profit of Rs 1,859.07 crore (Rs 18.59 billion) for the October-December period in 2012-13.

HDFC's net interest income in Q3, 2013-14 was up 16.4 per cent at Rs 4,634.8 crore (Rs 46.34 billion), from Rs 3,981.6 crore (Rs 39.81 billion) in the year-ago period.

The non-interest income increased by 31.7 per cent to Rs 2,148.3 crore (Rs 21.48 billion), HDFC Bank said in a statement.

The net interest margin of the bank declined marginally to 4.2 per cent as against 4.3 per cent.

The bank's total Q3 income moved up to Rs 12,739 crore (Rs 127.39 billion), from Rs 10,818.13 crore (Rs 108.18 billion) year-ago period, it said.

For the first three quarters of 2013-14, the bank clocked nearly 27 per cent rise in net profit to Rs 6,151.9 crore (Rs 61.51 billion), compared to Rs 4,836.44 crore (Rs 48.36 billion) in the 9-months of 2012-13.

The bank reported a total income of Rs 36,265.2 crore (Rs 362.65 billion) in the first nine months of the current fiscal, compared to Rs 30,790.0 crore (Rs 307.9 billion) in the previous financial year.

Capital Adequacy Ratio for the bank as per the Basel III norms was 14.7 per cent at the end of the third quarter.

As on December 31, 2013, gross non-performing assets and net non-performing assets stood at 1 per cent and 0.3 per cent respectively.

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