Private lender HDFC Bank on Tuesday posted 30.1 percent rise in net profit at Rs 1,889.8 crore for the January-March quarter of 2012-13 fiscal over the same period last year.
The country’s second largest private lender had a profit of Rs 1,453.08 crore in the corresponding quarter last year.
For the entire fiscal ended March, the bank’s consolidated net profit grew 30.9 percent over FY12 to Rs 6,869.6 crore.
Its total income during the reporting quarter rose 21.1 percent to Rs 11,127.5 crore over the corresponding quarter last year while core net interest income went up by 20.6 percent at Rs 4,295.3 crore, the bank said in a statement.
The non-interest income grew to Rs 1,803.6 crore from Rs 1,628.9 crore in the same period last year.
On the expenditure front, the operating expenses grew 17.7 percent to Rs 2,663.7 crore, it said.
The net interest margin for the quarter ended March 2013 was 4.5 percent owing to changes in classification norms, the statement said, adding, but for the changes, it would have been flat sequentially at 4.3 percent.
The share of low cost current and savings account deposits increased to 47.4 percent against 45.4 percent in the previous quarter ended December.
About asset quality, the bank’s gross non performing assets ratio improved to 0.97 percent as on March 31, from 1.02 percent in the previous year.
The bank’s Board today recommended an increase in dividend to Rs 5.50 per equity share of the face value of Rs 2, up from Rs 4.30 per share last year.
HDFC Bank’s shares were trading at Rs 686 towards the close of the trading session on BSE.
PTI