HDFC Bank's Q4 net profit up 22.6% to Rs 5,885 cr

Lending major HDFC Bank on Saturday reported a 22.6 per cent increase in its net profit for the January-March quarter on a year-on-year basis. The bank`s net profit for the fourth quarter of financial year 2018-19 stood at Rs 5,885.1 crore, HDFC Bank said in a regulatory filing to the Bombay Stock Exchange.

"After providing Rs 3,069.3 crore for taxation, the Bank earned a net profit of Rs 5,885.1 crore, an increase of 22.6 per cent over the quarter ended March 31, 2018," the bank said in a statement.

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"Net interest income (interest earned less interest expended) for the quarter ended March 31, 2019 grew by 22.8 per cent to Rs 13,089.5 crore, from Rs 10,657.7 crore for the quarter ended March 31, 2018, driven by average asset growth of 19.8 per cent and a core net interest margin for the quarter of 4.4 per cent."

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For the full fiscal 2018-19, its net profit grew by 20.5 per cent to Rs 21,078.1 crore.