HDFC Bank Profit Rises 20% To Over Rs 4,642 Crore In Q3

New Delhi: HDFC Bank on Friday reported a 20.1 per cent growth in net profit at Rs 4,642.6 crore for the third quarter of the current fiscal year. The private sector bank had posted a net profit of Rs 3,865.33 crore for the October-December quarter of last fiscal year.

Total income rose to Rs 24,450.44 crore in the December quarter, up 17.84 per cent from Rs 20,748.27 crore in the year-ago period.

Net interest income grew by 24.1 per cent to Rs 10,314.3 crore during the quarter under review from Rs 8,309.1 crore reported in the corresponding quarter a year ago. HDFC Bank's net interest margin stood at 4.3 per cent for the quarter.

The net non-performing assets (NPAs) as a percentage of total loans rose marginally to 0.44 per cent at the end of December, from 0.32 per cent in same period last year.

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HDFC Bank's provisions (other than tax) and contingencies increased to Rs 1,351.44 crore as against Rs 715.78 crore reported in the corresponding period a year ago.

At 13:08 pm, shares in HDFC Bank were trading 0.65 per cent higher at Rs 1,944.50 apiece on the BSE, whose benchmark Sensex index was trading 74 points higher at 35,334.