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

Private sector lender HDFC Bank on Thursday reported a 20.15% 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% 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% to Rs 2,806.6 crore for the April-June quarter. It accounted for 26.5% of net revenues.

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

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

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