JOIN USHDFC Bank reported a 20.72 per cent increase in net profit for the first quarter ended June 30, 2015 at Rs 2,695.72 crore as against Rs 2,233.04 crore in the same quarter of the previous fiscal.
Profits for the quarter were lower as compared with the sequential quarter by 3.96 per cent. The bank had reported a net profit of Rs 2,806.91 crore in the fourth quarter of the previous fiscal.
Net interest income for the bank increased 23.5 per cent to Rs 6,388.8 crore in the quarter as against Rs 5,171.6 crore in the comparable quarter.
Provisions for the bank were higher at Rs 727.99 crore compared with Rs 482.78 crore of the previous year. It included specific loan provisions of Rs 557.8 crore, general provisions of Rs 96 crore, floating provisions of Rs 65 crore and other provisions of Rs 9.5 crore.