HDFC Bank's quarterly net profit increased 27 percent to Rs 6345 crore

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(Commerce Rep) Mumbai, Ta. 19 October 2019, Saturday

HDFC Bank Limited, the top private sector bank of India, announced good results for the second quarter ended September 1, 2015. The bank's net profit increased by 8% to Rs 5 crore, compared to Rs 9.5 crore in the same period last year. The average growth in the asset is 6% and the core net interest margin is expected to grow by 8%.

The bank's net interest income increased by 8.5% to Rs. Loans have increased by 8.5 percent. Other income (non-interest income) of the bank increased by 8.5 percent to Rs 1.8 crore in the quarter.

Operating profit increased by 8.5% to Rs. Fees and commissions account for more than 5% of other revenue. Which is an increase of 5% to Rs.5 crore.

Foreign exchange and derivatives revenues grew by 8.7 percent to Rs 1.8 crore. The profit on sales-revaluation of the investments was Rs 1.8 crore, which was Rs 8 crore in the corresponding period of the previous year.

The bank's asset quality is holding steady. Total NPAs declined from 9.2 percent in the first quarter to 8.7 percent in the first quarter, and net NPAs declined from 9.5 percent to 8.2 percent. The bank has increased its provisions and acquisitions by 8.5 percent to Rs 8.5 crore.

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