HDFC Bank on Saturday reported an 18.2% increase in its net profit at Rs.4,601.44 crore for the quarter ended June. The private sector lender had registered a net profit of Rs. 3,893.84 crore in the corresponding period of the previous fiscal 2017-18.
Total income for the quarter grew 18.8% to Rs.26,367 crore from Rs.22,185.40 crore in the quarter ended 30 June 2017, the bank said in a regulatory filing.
Net revenues (net interest income plus other income) increased to Rs.14,631.60 crore from Rs.12,887.4 crore earlier. The net interest income (interest earned less interest expended) for the quarter grew by 15.4% to Rs.10,813.60 crore, from Rs.9,370.70 crore earlier, driven by asset growth and a net interest margin of 4.2% for the quarter, HDFC Bank said.
On the assets front, gross non-performing assets (GNPAs) stood at 1.33% of gross advances as on 30 June 2018, compared to 1.30% as on 31 March 2018 and 1.24% as on 30 June 2017. Net non-performing assets (NPAs) or bad loans were at 0.4% of net advances as on 30 June 2018, down from 0.44% a year ago.
Provisions and contingencies for the quarter were at Rs.1,629.4 crore as against Rs.1,558.8 crore for the quarter ended 30 June 2017.
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