18 Aug 2017 | 5:44 AM

News

COMPANYNEWS
HDFC Bank Q4 net jumps 18.3% at Rs 3990 cr
  |
Published on 04-21-2017
Private sector lender HDFC Bank on Friday reported a 18.3 per cent growth in its net profit at Rs 3990.10 crore during the January-March quarter of 2017-18 helped by increase in other income and net interest income.


“The lender had posted net profit of Rs 3374.22 crore in the corresponding quarter of previous fiscal said HDFC Bank in a filing to Bombay Stock Exchange.


The total income of bank rose by 14.3 per cent to Rs 21560.70 crore in Q4 FY17 from Rs 18862.60 crore in Q4 FY16.


Net interest income (NII) the difference between revenues generated by interest-bearing assets and the cost of servicing (interest-burdened) liabilities grew 21.5 per cent to Rs 9055.10 crore from Rs 7453.30 crore in the same period last year. Other income rose by 27.60 per cent to Rs 3446.30 crore from Rs 2865.90 crore in the year ago period.


During the quarter provisions and contingencies increased by 90.48 per cent to Rs 1261.80 crore from Rs 662.45 crore in corresponding quarter of last fiscal.


During the quarter under review the bank’s gross non-performing assets slightly increased to 1.05 per cent of total loans compared with 0.94 per cent in the year-ago quarter. Net NPA of the bank too rose to 0.33 per cent against 0.28 per cent in corresponding period last year.


For FY 2016-17 the bank has posted net profit of Rs 14549.66 crore as against total revenue of Rs 81602.45 crore.


Meanwhile shares of bank closed day’s trade at Rs 1496.75 apiece up 2.38 per cent on the BSE.