HDFC Bank Q4 net profit rises 21% to Rs 2,807 crore | business | Hindustan Times
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HDFC Bank Q4 net profit rises 21% to Rs 2,807 crore

business Updated: Apr 23, 2015 16:17 IST

HDFC Bank reported a 21% rise in its net profit on Thursday, at Rs 2,806.91 crore for the fourth quarter that ended March 2015.

The country's second-largest private sector lender had reported a net profit of Rs 2,326.52 crore in corresponding quarter of 2013-14.

"After providing Rs 1,338.4 for taxation, the bank earned a net profit of Rs 2,806.9 crore for the quarter ended March 31, 2015, an increase of 20.6% over the quarter ended March 31, 2014," HDFC Bank said in a filing to the BSE.

The bank's total income increased from Rs 12,789.98 crore in the fourth quarter of 2013-14 to Rs 15,570.13 crore in the corresponding quarter of 2014-15, it added.

The net interest income during the last quarter of FY15 grew by 21.4% to Rs 6,013.2 crore from Rs 4,952.6 crore in the corresponding year-ago period.

The growth in net interest income (NII) was driven by average asset growth of 21.2% and 4.4% net interest margin for the quarter. On asset quality front, the bank's net non performing assets (NPAs) or bad loans were trimmed to 0.2% of the total advances during the quarter, from 0.3% in the year-ago period.

Gross NPAs also came down to 0.9% in the last quarter, from 1% in the year-ago period.

For the full fiscal 2014-15, the bank registered a net profit of Rs 10,215.92 crore as compared to Rs 8,478.4 crore in the previous fiscal.

The total full year income increased from Rs 49,055.18 crore for the year March 2014 to Rs 57,466.25 crore for the year ended March 2015, it said. HDFC Bank shares closed almost flat at Rs 1,011 apiece on the BSE, marginally down by 0.39% from the previous close.