HDFC Bank net profit up 31.48 percent

October 19th, 2011 - 5:50 pm ICT by IANS  

Mumbai, Oct 19 (IANS) The country’s second largest private lender, HDFC Bank, Wednesday reported a 31.48 percent increase in net profit at Rs.1,199.35 crore in the second quarter ended Sep 30, compared to Rs.912.14 crore in the like period of the last financial.

The bank’s total income increased by 37.40 percent at Rs.7,929.38 crore in the quarter from Rs.5,770.70 crore in the corresponding quarter of the last fiscal.

The net interest income in the second quarter grew by 16.6 percent at Rs.2,944.5 crore with a net interest margin of 4.1 percent.

HDFC Bank’s other income rose by 26.1 percent in the quarter ended Sep 30 at Rs.1,211.68 crore from Rs.960.71 crore in the like period of 2010-11.

The bank’s gross non-performing assets declined by one percent against 1.16 percent in the second quarter of 2010-11.

Net non-performing assets were lower at 0.2 percent of net advances in the July-September quarter, as against 0.3 percent in the previous corresponding quarter.

The current account, savings account (CASA) stood at 47.3 percent.

For the half year, the bank reported an increase of 32.51 percent in its net profit which stood at Rs.2,284.33 crore as compared to Rs.1,723.85 crore in the like period of 2010-11.

The bank said that its total income in the half year period went up by 34.39 percent at Rs.15,027.4 crore as against Rs.11,181.3 crore in the like period of last fiscal.

The company’s scrip at the Bombay Stock Exchange closed 2.81 percent up at Rs.490.20 from Tuesday’s close of Rs.476.80.

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