MUMBAI:Private lender HDFC Bank Ltd on Friday reported a 18.25 per cent increase in its net profit at Rs 3,990.09 crore for the quarter ended March, 2017 as against Rs 3,374.22 crore a year ago. The rise in profit was on account of increase in other income and interest income.
While net interest income shot up 21.29 per cent at Rs 9,055.1 crore compared to Rs 7,453.34 crore last year, other income rose 20.25 per cent at Rs 3,446.26 crore during the quarter under review up from Rs 2,865.86 crore in the same period the previous fiscal.
Total income during the fourth quarter rose to Rs 21,560 crore, up from Rs 18,862 crore in the same quarter of the previous fiscal.
For full 2016-17 fiscal, the private sector lender reported a 18.3 per cent increase in its net profit at Rs 14,549 crore, over the previous financial year, while total income rose 18.5 per cent at Rs 81,602.5 crore.
HDFC’s net interest margin stood at 4.3 per cent, while core cost to income ratio was at 44.5 per cent for the year ended March, 2017, as against 45.1 per cent the previous year.
Gross non-performing assets (NPAs) rose by 12.48 per cent to Rs 5,885.66 crore, which as a percentage of total loans stood at 1.05 per cent as on March, 2017.
Similarly, net NPAs grew to 0.33 per cent during the fourth quarter of FY17 as against 0.32 per cent in the previous quarter and 0.28 per cent in the same quarter last year. The bank’s provisions and contingencies increased 76.28 per cent to Rs 1,261.80 crore in the fourth quarter from Rs 715.78 crore a quarter ago.
The bank’s total deposits stood at Rs 6,43,640 crore, registering an increase of 17.8 per cent over last year, while advances rose 19.4 per cent at Rs 5,54,568 crore.