Private sector lender HDFC Bank on Friday reported a 18.3 per cent growth in its net profit at Rs 3,990.10 crore during the January-March quarter of 2017-18, helped by increase in other income and net interest income.
“The lender had posted net profit of Rs 3,374.22 crore in the corresponding quarter of previous fiscal, said HDFC Bank in a filing to Bombay Stock Exchange.
The total income of bank rose by 14.3 per cent to Rs 21,560.70 crore in Q4 FY17 from Rs 18,862.60 crore in Q4 FY16.
Net interest income (NII), the difference between revenues generated by interest-bearing assets and the cost of servicing (interest-burdened) liabilities, grew 21.5 per cent to Rs 9,055.10 crore from Rs 7,453.30 crore in the same period last year. Other income rose by 27.60 per cent to Rs 3,446.30 crore from Rs 2,865.90 crore in the year ago period.
During the quarter, provisions and contingencies increased by 90.48 per cent to Rs 1,261.80 crore from Rs 662.45 crore in corresponding quarter of last fiscal.
During the quarter under review, the bank’s gross non-performing assets slightly increased to 1.05 per cent of total loans, compared with 0.94 per cent in the year-ago quarter. Net NPA of the bank too rose to 0.33 per cent, against 0.28 per cent in corresponding period last year.
For FY 2016-17, the bank has posted net profit of Rs 14,549.66 crore as against total revenue of Rs 81,602.45 crore.
Meanwhile, shares of bank closed day’s trade at Rs 1496.75 apiece, up 2.38 per cent, on the BSE.