HDFC Bank Q3 net profit up 25% at Rs2,326 crore
17 January 2014
HDFC Bank has reported 25.1 per cent jump in its fiscal third quarter net profit at Rs2,325.70 crore.
HDFC Bank had posted a net profit of Rs1,859.07 crore for the October-December quarter of 2012-13.
HDFC's net interest income in Q3, 2013-14 rose 16.4 per cent to Rs4,634.8 crore, from Rs3,981.6 crore in the year-ago period.
The non-interest income for the quarter increased by 31.7 per cent to Rs2,148.3 crore, HDFC Bank said in a statement.
Net interest margin of the bank, however, declined marginally to 4.2 per cent from 4.3 per cent in the previous year quarter.
Total income for the October-December 2013 quarter moved up to Rs12,739 crore, from Rs10,818.13 crore during the year-ago quarter, the bank said.
For the nine months ended 31 December 2013 of the 2013-14 financial year, HDFC Bank reported a near 27-per cent rise in net profit at Rs6,151.9 crore, compared to Rs4,836.44 crore in the first 9 months of the 2012-13 financial year.
Total income for the first nine months of the current fiscal stood at Rs36,265.2 crore, compared to Rs30,790.0 crore in the first nine months of the previous financial year.
HDFC Bank's capital adequacy ratio (CAR) as per the Basel III norms was 14.7 per cent at the end of the third quarter.
As of 31 December 2013, gross NPAs and net NPAs of the bank stood at 1 per cent and 0.3 per cent, respectively.