HDFC Bank Q3 net rises 20.10% to ₹4642.6 crore

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

That was its highest ever quarterly profit and broadly in line with the 46.31 billion rupees analysts had expected on average, according to Thomson Reuters data.

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

NII or the core income a bank earns by giving loans decreased 5% to Rs494.96 crore compared with Rs520.77 crore past year. Other operating expenses surged 41% to Rs157.73 crore.

Asset quality worsened during the quarter.

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Non-interest income also saw a robust 40 per cent jump as it came at Rs 1,422.3 crore against Rs 1,016.5 crore in the corresponding period of previous year.

The bank's gross bad loans as a percentage of total loans were 1.29 percent at end-December, versus 1.26 percent at end-September.

Bank's gross NPA was 1.72 per cent in the period under review as compared to 0.85 per cent in the third quarter of the last fiscal. Provisions and contingencies for Q3 FY18, however, stood at Rs 1,351.4 crore against Rs 1476.2 crore for the previous quarter. Deposits rose 10.1% to Rs6.99 trillion.

Shares of Yes Bank closed 0.66 per cent down at Rs 340.25 apiece on BSE today.

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