HDFC Bank Q1 net profit rises 20.15% to Rs 3,238.91 crore

HDFC Bank, India's second-largest private sector lender, has reported a 20.15 per cent increase in its net profit, at Rs3,238.91 crore, for the fiscal first quarter ended 30 June 2016, compared with Rs2695.72 crore for the similar quarter of the previous fiscal.

Profit for the first quarter of fiscal 2016-17 was, however, lower by 4.03 per cent compared with the net profit of Rs3,374 crore reported for the fourth quarter of fiscal 2015-16 ended March 2016.

Total income of the bank for the quarter increased by 17.09 per cent to Rs19,322.63 crore compared to Rs16,502.97 crore for the quarter ended 30 June 2015.

During the quarter ended 30 June 2016, HDFC Bank's gross non-performing assets (NPAs) increased marginally to 1.04 percent of gross advances against 0.95 per cent at the end of first quarter of the last fiscal.

Net non-performing assets stood at 0.3 per cent of net advances as of 30 June 2016. Net NPA stood at 0.32 per cent in Q1FY17.