HDFC Bank Q4 net profit rises 33 per cent; revenues dip
24 Apr 2010
India's second largest private lender, HDFC Bank Limited, reported a net profit of Rs836.6 crore, an increase
of 32.6 per cent over the quarter ended 31 March 2009.
HDFC Bank's pre-tax profit rose 37.4 per cent to Rs1,254.5 crore over the corresponding quarter of the previous year. HDHC Bank paid Rs417.8 crore in taxes.
HDFC Bank Limited, earned a total income of Rs4,956.7 crore during the quarter ended 31 March 2010, compared withRs5,365.52 crore in the year-ago period.
However, net revenues (net interest income plus other income) increased to Rs3,254.9 crore during the quarter as against Rs2,966.7 crore in the corresponding quarter ended 31 March 2009.
Net interest income (interest earned less interest expended) jumped 27 per cent to Rs2,351.4 crore from the previous year period, driven by loan growth and a core net interest margin for the quarter of 4.4 per cent, HDFC Bank executive director Paresh Sukthankar.
For the quarter ended 31 March 2010, other income (non-interest revenue) was Rs903.6 crore.
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