India’s major private sector lender HDFC Bank has reported a 20.3% on-year rise in net profit to Rs 5,586 crore for the October-December period, in line with street estimates. A CNBC TV18 poll had earlier estimated net profit at Rs 5,589.20 crore.
The bank has reported a 26% on-year rise in total income to Rs 30,811.30 crore, as compared to Rs 24,450.4 crore for the quarter ended December 31, 2017. Notably, the asset quality has been stable for the bank, with gross non-performing assets at 1.38% of gross advances as on December 31,2018, as against 1.33% as on September 30, 2018 and 1.29% as on December 31, 2017. We bring to you key figures in a nutshell.
HDFC Bank’s net profit rose by 20.3% on-year to Rs 5,586 crore. The profit before tax (PBT) for the quarter ended December 31, 2018 was up 20.7% to Rs 8,566.9 crore.
The lender’s total income for the quarter came in a Rs 30,811.3 crore, implying a growth of 26.0% Rs 24,450.4 crore for the quarter ended December 31, 2017. Net revenues (net interest income plus other income) increased by 23.4% on-year to Rs 17,497.8 crore.
The Net interest income (interest earned less interest expended) for the quarter ended December 31, 2018 grew by 21.9% to Rs 12,576.8 crore in the October-December-18 period.
Gross non-performing assets stood at 1.38% of gross advances as on December 31, 2018, as against 1.33% as on September 30, 2018 and 1.29% as on December 31, 2017. Net non-performing assets were at 0.4% of net advances as on December 31, 2018.
As of December 31, 2018, the Bank’s distribution network stands at 4,963 banking outlets and 13,160 ATMs across 2,727 cities/ towns as against 4,734 banking outlets and 12,333 ATMs across 2,672 cities/ towns as of December 31, 2017.
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