HDFC Bank's net profit rises by 20% yoy to Rs. 3,239 crore
Major private lender, HDFC Bank reported net profit of Rs. 3,238.91 crore for the June quarter ended (Q1FY17), registering growth of 20.15% yoy(year-on-year).
However, the bank’s net profit declined by 4% in comparison with preceding quarter.
The bank’s NII (net interest income) was at Rs. 7,781.44, witnessing rise of 21.79% yoy and 4.40% qoq(quarter-on-quarter).While its total income stood at RS. 19,322.63 crore, up by 17.08% yoy and 2.43% qoq.
The top-line was driven by average asset growth of 20.2% and a net interest margin (NIM) of 4.4% during this quarter.
Provision and contingency was around Rs. 866.73 crore, increasing by 19.05% yoy and 30.83% qoq.
The bank’s gross NPA(non-performing asset) stood at 1.04%, expanding by 9 bps (basis point) yoy and 10 bps qoq.
Total balance sheet of the bank for the quarter stood at Rs. 7,55,100 crore as against Rs. 6,29,322 crore.
HDFC bank recorded total deposits of around Rs. 5,73,755 crore during this quarter, an increase of 18.5% over the corresponding quarter of the previous year.
CASA deposits saw healthy growth with savings account deposits rising by 22.2% over the previous year to reach Rs. 15,270 crore and current account deposits growing by 13.7% over the previous to reach Rs. 76,082 crore.
The share price of HDFC Bank dipped by 3.70 points or 0.30% to Rs. 1,229.