HDFC Bank net up 30.5% in Q1 | india | Hindustan Times
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HDFC Bank net up 30.5% in Q1

HDFC Bank posted a net profit of Rs 606 crore showing a growth 30.5 per cent for the quarter ended June 30, 2009 over Rs 464 crore in the corresponding quarter last year.

india Updated: Jul 14, 2009 21:59 IST
HT Correspondent

HDFC Bank posted a net profit of Rs 606 crore showing a growth 30.5 per cent for the quarter ended June 30, 2009 over Rs 464 crore in the corresponding quarter last year.

Riding on a growth in both current account savings account (CASA) as well as advances, the bank’s revenue grew 25.1 per cent over the corresponding quarter last year to Rs 2,899 crore with its deposits growing to Rs 1,45,732 crore, from Rs 1,30,918 crore as on June 30, 2008.

While the CASA mix was at 45 per cent of total deposits as on June 30, 2009, gross advances for the period stood at Rs 1,05,288 crore, an increase of 7.7 per cent over the corresponding quarter last year. Retail loans constituted 58.1 per cent of the total loan book.

However, the bank’s non-performing asset (NPA) coverage ratio based on specific provisions rose to 70 per cent in the first quarter of financial year 2009-10 as compared with 67 per cent in the corresponding quarter last year.