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Business News » Companies News

Q1FY19: HDFC Bank profit up by 18% to Rs 4,601 crore; Provisions, NPA rises

A Bloomberg poll of analysts had predicted profit of Rs 4,790 crore in Q1FY19 for HDFC Bank.

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Q1FY19: HDFC Bank profit up by 18% to Rs 4,601 crore; Provisions, NPA rises
Representational Image: Photo: Reuters
Written By: ZeeBiz WebTeam
Updated: Sat, Jul 21, 2018
04:40 pm
Mumbai, ZeeBiz WebDesk
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Largest private lender HDFC Bank missed analysts estimate during the first quarter of FY19 (Q1FY19) result announcement, as the bank posted a net profit of Rs 4,601.44 crore which was higher by 18.17% compared to net profit of Rs 3,893.84 crore in the corresponding period of previous year. However, Q1FY19 net profit was a decline by 4.12% from profit of Rs 4,799.28 crore in the preceding quarter. A Bloomberg poll of analysts had predicted profit of Rs 4,790 crore in Q1FY19 for HDFC Bank.

Net Interest income (NII) was at Rs 10,813.57 crore in Q1FY19, which witnessed growth of 15.40% from Rs 9,370.74 crore in Q1FY18 and gradually up by 1.46% from Rs 10,657.71 crore in Q4FY18.

Provisions during this period stood at Rs 1,629.37 crore, witnessing increase of 4.53% as against Rs 1,558.76 crore in Q1FY18 and up by 5.72% from Rs 1,541.10 crore in Q4FY18.

Provisions were higher because, HDFC Bank surprising recorded a massive 31.70% rise in their gross NPA at Rs 9,538.62 crore in Q1FY19 versus gross NPA of Rs 7,242.93 crore in Q1FY18. This was also higher by 10.82% as against Rs 8,606.97 crore in Q4FY18.

In percentage terms, gross NPA rose to 1.33% from 1.24% in Q1FY18 and 1.30% in Q4FY18.

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HDFC BankHDFC Bank Q1FY19
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