This ad will auto close in 10 seconds

HDFC Bank Q2 net jumps over 30% to Rs 1,560 crore

HDFC Bank on Friday reported 30 percent rise in quarterly profit, led by stronger loan growth, better fee income and stable net interest margins.

Mumbai: Private sector lender HDFC Bank on Friday posted 30.06 percent jump in net profit at Rs 1,559.98 crore in the July-September quarter.

It had posted post tax profit of Rs 1,199.35 crore in the corresponding period last year.

The bank's net interest income was up 26.7 percent at Rs 3,731.7 crore. The non-interest income increased marginally to Rs 1,345.1 crore from Rs 1,211.7 crore during the second quarter this fiscal, it said in a filing to the BSE.

Its core net interest margin stood at 4.2 percent.

The bank's Q2 income moved up to Rs 9,869.8 crore, from Rs 7,929.4 crore, it said.

The second largest private sector lender saw its balance sheet size increase 19.5 percent to Rs 3,77,375 crore at the end of the reporting quarter.

Its net advances were up 22.9 percent at Rs 2,31,649 crore, compared to the September 2011 figure while deposits were up 18.8 percent at Rs 2,74,130 crore.

The share of the low-cost current and savings account deposits stood at 45.9 percent.

The bank scrip was trading at Rs 630.25, up 0.91 percent on the BSE.


From Zee News

0 Comment - Join the Discussions


photo gallery