Twitter
Advertisement

HDFC Bank Q2 net profit up 20% at Rs 2,869.5 crore

The banks total income for the September quarter this fiscal was Rs 17,324.3 crore, up from Rs 13,894.7 crore in the year-ago period.

Latest News
article-main
HDFC Bank logo
FacebookTwitterWhatsappLinkedin

Private sector player HDFC Bank on Wednesday reported 20.5% jump in net profit to Rs 2,869.5 crore for the second quarter ended September 30, 2015-16.

The bank had posted a profit of Rs 2,381.5 crore in the same period last fiscal.

The bank's total income for the September quarter this fiscal was Rs 17,324.3 crore, up from Rs 13,894.7 crore in the year-ago period.

"After providing Rs 1,492.2 crore for taxation, the Bank earned a net profit of Rs 2,869.5 crore, an increase of 20.5% over the quarter ended September 30, 2014," the HDFC Bank said in a regulatory filing.

Gross non-performing assets (NPAs) were at 0.9% of gross advances as of September 2015, marginally lower from 1% a year ago.

The net NPAs were at 0.2% of net advances.

Net interest income (interest earned less interest expended) for the quarter grew by 21.2% to Rs 6,680.9 crore driven by average assets growth of 29% and a net interest margin for the quarter of 4.2%, it added.

It further said net revenues increased by 22.2% to Rs 9,232.7 crore in the reporting quarter.

Other income (non-interest revenue) at Rs 2,551.8 crore was 27.6% of the net revenues for the quarter ended September 2015 and grew by 24.7% over Rs 2,047.1 crore in the corresponding period last fiscal.

Operating expenses were Rs 4,189.8 crore, an increase of 19.8% over the same quarter of last fiscal.

The Bank's total capital adequacy ratio (CAR) as per Basel III guidelines, was at 15.5% as against a regulatory requirement of 9%.

For the half year ended September 2015, the bank earned a total income of Rs 33,827.3 crore as against Rs 26,965.4 crore in the corresponding period of last fiscal.

At September end, the bank had distribution network of 4,227 branches and 11,686 ATMs.

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

VIDEO OF THE DAY

    Watch more

    Live tv

    Advertisement
    Advertisement