HDFC Bank Q3 net profit jumps 20% at Rs 2,794.51 crore

Private lender HDFC Bank on Saturday reported 20% jump in net profit at Rs 2,794.51 crore for the third quarter ended December 2014 on account of higher interest income.

Private lender HDFC Bank on Saturday reported 20% jump in net profit at Rs 2,794.51 crore for the third quarter ended December 2014 on account of higher interest income.

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The bank had reported a net profit of Rs 2,325.70 crore during the same period of last financial year, HDFC Bank said in a filing to stock exchanges.

Total income of the bank rose to Rs 14,930.74 crore during the October-December period of FY15 from Rs 12,738.95 crore in the corresponding quarter of last financial year.

Net non performing assets (NPAs) stood at 0.26% as compared to 0.3% a year ago, while gross NPAs were at 0.99% as against 1.01% a year ago.

Earlier this week, promoters of HDFC Bank had diluted 0.7% stake while raising about Rs 10,000 crore by selling American Depository Receipts (ADRs) and India-listed shares to qualified institutional investors in the largest follow-on offer by a private sector firm.

The bank also made a fresh issuance of 8.6 crore shares. As a result, total number of paid-up shares stood at 250.35 crore at the end of February 10.