HDFC Q3 net up 31.5% at Rs 818.50 cr

The surge in net profit is significant considering its total income had decreased to Rs 4,887.82 crore for the quarter under review as against Rs 5,407.89 crore in the quarter ended December 31, 2008.

During the third quarter, HDFC Bank earned an interest of Rs 4,034.81 crore compared to Rs 4,468.50 crore of the same quarter last financial year.

The net interest income – the difference between revenue from lending and what it pays on deposits – rose 12 per cent to Rs 2,223 crore. Other income went down to Rs 853 crore from Rs 939.4 crore and provisions declined to Rs 447.7 crore versus Rs 531.8 crore.    For nine-month period ended December 31, 2009, the bank posted a net profit of Rs 2,112.07 crore, up 30.85 per cent compared to Rs 1,614.07 crore of the similar period last fiscal, the bank said in a statement issued to BSE here. 

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