HDFC Bank Saturday reported their quarterly financial statement with a rise of 20.6 per cent in its net profit to Rs. 5,005.73 crores for the September-end quarter of the current fiscal.
The bank had earlier registered a net profit of Rs 4,151.03 crore in the September-end quarter of 2017-18. Private sector Bank’s total income for the quarter rose 21.2 per cent to Rs. 28,215.2 crores as compared to Rs. 23,276.2 crores.
HDFC Bank said in a regulatory filing that the net interest income (NII) for the quarter under review surged by 20.6 per cent to Rs. 11,763.4 crores, as against Rs. 9,752.1 crores earned during the corresponding quarter of 2017-18. The growth was driven by an average asset rise of 22.9 per cent and a net interest margin of 4.3 per cent.
The gross non-performing assets (NPAs) of the bank increased a little to 1.33 per cent of the gross advances as on September 30, 2018, from 1.26 per cent from the same period of the previous year. In terms of value, the gross NPAs of the bank stood at Rs. 10,097.73 crores by end of September quarter, compared to Rs 7,702.84 crore.
The provisions and contingencies for the quarter ended September 30, 2018, were Rs 1,820 crore as against Rs 1,476.20 crore as on September 30, 2017.
The Private lender said it made a preferential allotment of more than 3.90 crore equity shares to its parent Housing Development Finance Corporation (HDFC Ltd) at a price of Rs 2,174.09 crore on July 17 aggregating to Rs 8,500 crore.