HDFC Bank Q1 profit rises 20.7% to Rs 2,695.72 crore

HDFC Bank on Tuesday reported a 20.72% growth in net profit at Rs 2,695.72 crore for the quarter ended June 30. The bank had earned a net profit of Rs 2,233.04 crore in the April-June quarter of 2014-15.

HDFC Bank on Tuesday reported a 20.72% growth in net profit at Rs 2,695.72 crore for the quarter ended June 30.

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The bank had earned a net profit of Rs 2,233.04 crore in the April-June quarter of 2014-15.

The total income of the bank rose 26.25% to Rs 16,502.97 crore during the quarter under review compared with Rs 13,070.65 crore in the same period last year, HDFC Bank said in a BSE filing.

The net interest margin for the bank declined marginally to 4.3% in the April-June quarter as against 4.4% in the same period of the previous year.

However, net interest income earned by the bank increased by 23.5% to Rs 6,388.8 crore from Rs 5,171.6 crore in the same quarter last year.

The bank's other income (non-interest revenue) grew by 33% to Rs 2,461.9 crore for the April-June quarter.

As of June 30, HDFC Bank's gross non-performing assets (NPAs) were at 0.95% of gross advances, as against 1.07% at the end of first quarter of the last fiscal.

Net non-performing assets stood at 0.27% of net advances as on June 30, 2015.

Shares of HDFC Bank were trading 0.39% down at Rs 1,111.25 in the afternoon trade on BSE.