HDFC Bank net up 15% at Rs 3,865.33 crore in Oct-Dec
The provisions and contingencies provided for by HDFC Bank were up 9.5% in the period.
HDFC Bank net profit up rises 15% at Rs 3,865.33 crore compared to the Rs 3.356.84 crore profit posted in the same period last year.
The bank's total income was up 13% at Rs 20,748.27 crore compared to Rs 18,283.31 crore in October - December last year.
Net interest income of the bank grew by 17.6% to Rs 8,309.1 crore from Rs 7,068.5 crore in the same period last year. The bank said that the net interest income growth was driven by average assets growth of 18.6% and a net interest margin for the quarter of 4.1%.
HDFC Bank's provisions and contingencies in Oct-Dec 2016 were at Rs 715.8 crore compared to Rs 653.9 crore in 2015, up 9.5%. The bank said the provisions and contingencies "consisted of specific loan loss provisions of Rs 694.4 crore, general provisions of Rs 9.3 crore and other provisions of Rs 12.1 crore."
Gross NPAs were up at Rs 5,232.27 crore, up 3.22%. While Gross NPAs as a percentage of gross advances stood at 1.05% in Oct-Dec, up from 0.97% in the year-ago period.
The Bank's shares were trading up 0.90% or Rs 11.20 higher at Rs 1,256 from previous close.