HDFC Bank net profit up 31% to Rs 99 crore in third quarter
By Our Banking Bureau | 16 Jan 2003
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Mumbai: HDFC Bank has announced a 31.1-per cent growth in its net profit for the third quarter ended 31 December 2002 to Rs 98.88 crore as compared to Rs 75.45 crore for the corresponding period in the previous fiscal. The operating profit for the quarter was also higher at Rs 188.13 crore (Rs 135.98 crore). The total income of the bank for the quarter was Rs 646.3 crore (Rs 525.1 crore).
For the nine-month period ended 31 December 2002, the net profit was up to Rs 270.98 crore (Rs 206.80 crore), whereas the operating profit was at Rs 50.853 crore.
The total income of the bank for the quarter stood at Rs 646.28 crore (Rs 525.07 crore) and the total expenditure was at Rs 458.15 crore (Rs 389.09 crore).
The bank made provisions of Rs 36.06 crore (Rs 27.58) crore, whereas provisions for taxation stood at Rs 53.19 crore (Rs 32.95 crore).
The bank's capital adequacy as of 31 December 2002 stood at 13 per cent (16.50 per cent).
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