HDFC Bank Q4 net up 30 per cent

An increase in credit and income from fees and commission drove profits up, said Paresh Sukhatankar, Head, Credit and Risk, HDFC Bank.

The bank has recommended a dividend of 45 per cent, (Rs4.5 per share) which includes a special one-time dividend of 5 per cent on the occasion of the bank completing 10 years.

Total income rose to Rs1,087.27 crore (Rs806.31 crore). Net interest income was at Rs513.6 crore (Rs360.57 crore), driven by balance sheet growth, a marginal improvement in spreads and profit on sale of retail loans.

Other income that includes commission and sale of investments grew by 56.6 per cent to Rs220.1 crore (Rs140.5 crore).

Total expenditure for the quarter increased to Rs682.33 crore (Rs521.97 crore).Net profit for the full year rose by 30.6 per cent to Rs665.6 crore (Rs509.5 crore).

Total income stood at Rs3,744.83 crore (Rs3,028.96 crore). Net interest income increased to Rs1,777.93 crore from Rs1,337.88 crore.