HDFC Bank Ltd, India's second-biggest private
sector lender by assets, said on Thursday it was optimistic of growing loans on
the back of faster economic expansion after reporting net profit grew more than
a fifth in the March quarter.
HDFC Bank Ltd on Today reported a net profit of Rs 2,807 crore, up
20.7 per cent YoY, for the quarter ended March 31, supported by healthy net
interest income , and strong other income. The results were largely in
line with ET Now estimate of Rs 2,838 crore. India's second-biggest private
sector lender, had reported a net profit of Rs 2,326 crore in the year-ago
period.
Total income increased from Rs 12,789.98 crore for the quarter ended March 31, 2014, to Rs 15,570.13 crore for the quarter ended March 31, 2015.
Net interest income - the difference between interest earned and interest paid - rose by 21.4 per cent on a year-on-year basis, in line with ET Now estimate of Rs 6,038 crores.
Net interest income increased to Rs 6,013 crore for the quarter ended March 31, as compared to Rs 4,953 crore reported in the corresponding quarter of the last fiscal year. Pre-provision profit (PPP), or profits before deducting any provisions, rose by 24.90 per cent on a year-on-year basis.
PPP rose to Rs 4,722 crore for the fourth quarter of the financial year 2015, as compared to Rs 3,779 crore reported in the year-ago period.
On asset quality front, the bank's net non-performing assets (NPA) decreased to 0.90 per cent of the total advances in the fourth quarter of 2014-15, from 1 per cent recorded in the previous quarter. Likewise, gross NPAs slipped to 0.2 per cent in Q4, from 0.3 per cent recorded in the previous quarter.
Total income increased from Rs 12,789.98 crore for the quarter ended March 31, 2014, to Rs 15,570.13 crore for the quarter ended March 31, 2015.
Net interest income - the difference between interest earned and interest paid - rose by 21.4 per cent on a year-on-year basis, in line with ET Now estimate of Rs 6,038 crores.
Net interest income increased to Rs 6,013 crore for the quarter ended March 31, as compared to Rs 4,953 crore reported in the corresponding quarter of the last fiscal year. Pre-provision profit (PPP), or profits before deducting any provisions, rose by 24.90 per cent on a year-on-year basis.
PPP rose to Rs 4,722 crore for the fourth quarter of the financial year 2015, as compared to Rs 3,779 crore reported in the year-ago period.
On asset quality front, the bank's net non-performing assets (NPA) decreased to 0.90 per cent of the total advances in the fourth quarter of 2014-15, from 1 per cent recorded in the previous quarter. Likewise, gross NPAs slipped to 0.2 per cent in Q4, from 0.3 per cent recorded in the previous quarter.
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