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HDFC Bank Q4 profit up 30 percent

Maharashtra,Business/Economy, Wed, 18 Apr 2012 IANS

Mumbai, April 18 (IANS) HDFC Bank, India's second-largest private lender, Wednesday reported a 30.4 percent increase in its net profit at Rs.1,453.1 crore for the quarter ended March 31, 2012, led by higher interest rate margins and stable asset quality.


The bank had reported a net profit of Rs.1,429.6 crore in the corresponding quarter of 2010-11.


The lender's total income increased 32.1 percent at Rs.8,880 crore in the quarter under review from Rs.6,724.3 crore in the corresponding quarter of 2010-11.


The net interest income of the bank grew by 19.3 percent in the quarter ended March 31, 2012, at Rs.3,388.3 crore from Rs.2,839.5 crore in the corresponding quarter of 2010-11.


"This (growth) was driven by loan growth of 22.2 percent and core net interst margin for the quarter of 4.2 percent," the lender said in a regulatory filing to the Bombay Stock Exchange (BSE).


According to the filing, the lender's other income for the quarter under review grew by 18.8 percent at Rs.1,492 crore over the corresponding quarter of 2010-11.


Its gross non-performing assets (NPAs) declined to 1.02 percent year-on-year from 1.03 percent. The gross NPAs slipped to Rs.1,999.39 crore from Rs.2,020.58 crore in the like period of 2010-11.


For the full fiscal 2011-12, the lender reported a consolidated net profit growth of 31.4 percent at Rs.5,247 crore.


Its standalone net profit grew by 31.6 percent at Rs.5,167.1 crore in the fiscal 2011-12.


The lender's net revenues for fiscal 2011-12 went up by 19.2 percent at Rs.17,540.5 crore from Rs.14,878.3 crore in 2010-11.


It also announced a dividend of Rs.4.30 per equity share of Rs.2 for the year ended March 31, 2012 from Rs.3.30 per equity share of Rs.2 for the previous year.


The bank's scrip at the BSE was trading 1.26 percent up at Rs.537.55 around 1:30 p.m.


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