HDFC Bank Q3 net rises 20.10% to Rs 4,642.6 crore

Private lender HDFC Bank today reported a 20.1 per cent growth in net profit to Rs 4,642.6 crore for the third quarter of the current fiscal.

The private sector bank had posted a net profit of Rs 3,865.33 crore in the October-December quarter of last fiscal.

Total income rose to Rs 24,450.44 crore during the December quarter, up 17.84 per cent from Rs 20,748.27 crore in the year-ago period.

Net interest income grew by 24.1 per cent to Rs 10,314.3 crore during the quarter under review from Rs 8,309.1 crore reported in the corresponding quarter a year ago. HDFC Bank's net interest margin stood at 4.3 per cent for the quarter.

The net non-performing assets (NPAs) as a percentage of total loans rose marginally to 0.44 per cent at the end of December, from 0.32 per cent in same period last year.

HDFC Bank's provisions (other than tax) and contingencies increased to Rs 1,351.44 crore as against Rs 715.78 crore reported in the corresponding period a year ago.

Shares of HDFC Bank were trading at Rs 1,944.30, up 0.65 per cent, on the BSE.