HDFC Bank Q3 net profit rises record 20% to Rs 46.43 bn

Private lender HDFC Bank reported a 20.1 per cent growth in net profit to Rs 46.63 billion for the third quarter of the current fiscal.

The private sector bank had posted a net profit of Rs 38.65 billion in the October-December quarter of last fiscal. Total income rose to Rs 244.50 billion during the December quarter, up 17.84 per cent from Rs 207.48.27 billion in the year-ago period.

Net interest income grew by 24.1 per cent to Rs 103.14 billion during the quarter under review from Rs 83.09 billion reported in the corresponding quarter a year ago.

HDFC Bank’s net interest margin stood at 4.3 per cent for the quarter.

The net non-performing assets (NPAs) as a percentage of total loans rose marginally to 0.44 per cent at the end of December, from 0.32 per cent in same period last year.

(Agencies)

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