HDFC Bank Ltd, India's top housing loan provider, today reported a net profit of Rs2,948.7 crore for the financial year ended 31 March 2010, up 31.3 per cent over the year ended 31 March 2009.

Consolidated net profit of the bank increased 33.6 per cent to Rs3,003.7 crore for the year ended 31 March 2010.

The bank earned a total income of Rs19,980.5 crore during the year ended 31 March 2010. Net revenues (net interest income plus other income) for the year ended 31 March 2010 were Rs12,194.2 crore, up 13.8 per cent from over Rs10,711.8 crore in the year ended 31 March  2009.

HDFC board recommended a dividend of Rs36 per equity share of Rs10 each for the financial year 2009-10 (previous year: Rs30 per equity share) .

The board also approved sub-division of the bank's shares from Rs10 each to the nominal value of Rs2 each, subject to the approval of the members at the 33rd annual general meeting (AGM), the corporation informed the Bombay Stock Exchange (BSE).

For the quarter ended 31 March 2010, the bank earned total income of Rs4,956.7 crore. Net revenues (net interest income plus other income) were Rs3,254.9 crore for the quarter ended 31 March 2010 against Rs2,966.7 crore for the corresponding quarter ended 31 March 2009.

Net interest income (interest earned less interest expended) for the quarter ended 31 March 2010 was Rs2,351.4 crore, up 27 per cent over the quarter ended 31 March 2009. This was driven by loan growth and a core net interest margin for the quarter of 4.4 per cent.

For the quarter ended 31 March 2010, other income (non-interest revenue) was Rs903.6 crore.

The main contributor to other income for the quarter was fees and commissions of Rs765.3 crore, up 5.7 per cent over Rs723.7 crore in the preceding quarter ended 31 December 2009 and by 7.1 per cent over Rs714.8 crore in the corresponding quarter ended 31 March 2009. The other major component of other income was foreign exchange and derivatives revenue of Rs180.1 crore, which increased by 17.9 per cent over Rs152.8 crore for the corresponding quarter of the previous year.

With an increase in bond yields, the bank incurred a loss of Rs47.3 crore on revaluation / sale of investments for the quarter ended 31 March 2010 as against a profit of Rs243.6 crore in the quarter ended 31 March 2009.