HDFC Bank Q3 net rises 20% to Rs 3,357 cr

Mumbai: HDFC Bank today reported 20.1 per cent growth in net profit to Rs 3,356.8 crore for the third quarter of the current fiscal on higher interest income.

The private sector bank had a net profit of Rs 2,791 crore in the October-December quarter of last fiscal.

Its total income rose to Rs 18,282 crore during the December quarter, from Rs 14,931 crore in the year-ago period.

Net interest income grew 24 per cent to Rs 7,068.5 crore during the quarter, driven by average assets growth of 28.2 per cent and a net interest margin of 4.3 per cent.

The net non-performing assets (NPAs) as a percentage of total loans rose marginally to 0.29 per cent at the end of December, from 0.26 per cent in same period last year.

Other income, which includes revenues from fees and commission, foreign exchange and derivatives, grew 13.3 per cent to Rs 2,872 crore.

Total deposits as of December, 2015 were over Rs 5.23 lakh crore, an increase of 26.5 per cent over December 2014.

Advances as of December 2015 were over Rs 4.36 lakh crore, a growth of 25.7 per cent over December 2014.

Total balance sheet size as of December was over Rs 6.87 lakh crore, as against over Rs 5.34 lakh crore at the end of December 2014.

Shares of HDFC Bank were trading at Rs 1,044.60, up 1.39 per cent, on the BSE.