HDFC Bank, India’s second largest private lender, on Wednesday posted a 30.4% year-on-year rise in the net profit at Rs 1,453 crore for the quarter ended March, 2012 compared to Rs 1,115 crore in the corresponding quarter last year helped by healthy growth in loans, interest income and other income.
Credit growth in the banking system is likely to be around 17%.
The net profit for the year ended March 2012 was Rs 5,167 crore, up 31.6%, over the year ended March 31, 2011.
Net interest income (interest earned less interest expended) for the quarter grew by 19% to Rs 3,388 crore against Rs 2,840 crore for the same quarter previous year.
Other income (non-interest revenue) during the quarter was Rs 1,492 crore, up 19% over a year ago period.
The total income was up 32% year-on-year at Rs 8,880 crore.