E-Paper
HDFC Bank posts 165 rise in Q4 net profit at ₹8,434 crore
Provisions for bad loans and contingencies were raised to ₹4,693.70 crore for the reported quarter from ₹3,784.49 crore parked aside in the year-ago period.
HDFC Bank on Saturday reported a 15.8 per cent rise in its consolidated net profit at ₹8,434 crore for the quarter ended March 2021.
The private sector lender had registered a net profit of ₹7,280 crore in the corresponding quarter a year ago.
"Consolidated advances grew by 13.6 per cent from ₹10,43,671 crore as on March 31, 2020 to ₹11,85,284 crore as on March 31, 2021," HDFC Bank said in a regulatory filing.
The consolidated net profit for the year ended March 2021 was ₹31,833 crore, up 16.8 per cent over the previous fiscal year.
Total income (consolidated) increased to ₹40,909.49 crore for the January-March quarter of FY 2020-21 from ₹38,287.17 crore in the year-ago period.
The full-year income (consolidated) in 2020-21 rose to ₹1,55,885.28 crore from ₹1,47,068.28 crore in the preceding year.
On the asset front, the bank's gross non-performing assets as of March 31, 2021 stood at 1.32 per cent of the gross advances, slightly up from 1.26 per cent in the year-ago period. In absolute value, the gross advances were worth ₹15,086 crore at the end of FY21, down from ₹12,649.97 crore.
Net NPAs were 0.40 per cent ( ₹4,554.82 crore) as against 0.36 per cent ( ₹3,542.36.
Provisions for bad loans and contingencies were raised to ₹4,693.70 crore for the reported quarter from ₹3,784.49 crore parked aside in the year-ago period.
"The bank also continues to hold provisions as on March 31, 2021 against the potential impact of Covid-19 based on the information available at this point in time and the same are in excess of the RBI prescribed norms," HDFC Bank said.
The bank held floating provisions of ₹1,451 crore and contingent provisions of ₹5,861 as on March 31, 2021. Total provisions (comprising specific, floating, contingent and general provisions) were 153 per cent of the gross non-performing loans as of end March 2021, it said.
