HDFC Bank Q1 net zooms 20% to Rs 3,239 cr

HDFC Bank Q1 net zooms 20% to Rs 3,239 cr

HDFC Bank Q1 net zooms 20% to Rs 3,239 cr

 Private sector lender HDFC Bank today reported a 20.15 per cent increase in net profit to Rs 3,238.91 crore for the quarter ended June 30.

The bank had earned a profit of Rs 2,695.72 crore in the April-June quarter last fiscal.
Total income rose to Rs 19,322.63 crore during the quarter under review, up 17.08 as against Rs 16,502.97 crore in the same period last year, HDFC Bank said in a BSE filing.

Net interest income grew 21.8 per cent to Rs 7,781.4 crore from Rs 6,388.8 crore last year.
The bank's other income (non-interest revenue) went up by 14 per cent to Rs 2,806.6 crore for the April-June quarter. It accounted for 26.5 per cent of net revenues.

As of June 30, HDFC Bank's gross non-performing assets (NPAs) increased marginally to 1.04 per cent of gross advances as against 0.95 per cent at the end of first quarter of the last fiscal.

Net non-performing assets stood at 0.3 per cent of net advances as on June 30. The net interest margin for the bank stood at 4.4 per cent first quarter of the current fiscal.

Shares of HDFC Bank were trading 0.58 per cent lower at Rs 1,224.95 during afternoon trade on BSE.

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