Private lender HDFC Bank on Saturday reported 20 per cent jump in net profit at Rs 2,794.51 crore (Rs 27.94 billion) for the third quarter ended December 2014 on account of higher interest income.
The bank had reported a net profit of Rs 2,325.70 crore (Rs 23.25 billion) during the same period of last financial year, HDFC Bank said in a filing to stock exchanges.
Total income of the bank rose to Rs 14,930.74 crore (Rs 149.3 billion) during the October-December period of FY15 from Rs 12,738.95 crore (Rs 127.38 billion) in the corresponding quarter of last financial year.
Net non-performing assets stood at 0.26 per cent as compared to 0.3 per cent a year ago, while gross NPAs were at 0.99 per cent as against 1.01 per cent a year ago.
Earlier this week, promoters of HDFC Bank had diluted 0.7 per cent stake while raising about Rs 10,000 crore (Rs 100 billion) by selling American Depository Receipts and India-listed shares to qualified institutional investors in the largest follow-on offer by a private sector firm.
The bank also made a fresh issuance of 8.6 crore (86 million) shares.
As a result, total number of paid-up shares stood at 250.35 crore (Rs 2.5 billion) at the end of February 10.
HDFC Bank's promoters are Housing Development Finance Corporation Ltd, HDFC Investments Ltd and HDFC Holdings Ltd.
Image: A customer walks outside an HDFC Bank branch in Mumbai. Photograph: Danish Siddiqui/Files/Reuters
