HDFC Bank Q1 net profit up 21% but lags estimates

By PTI
21 July, 2014

Private sector lender HDFC Bank today reported 21.1 per cent growth in net profit to Rs 2,233 crore for the quarter ended June 2014.

The bank had earned a net profit of Rs 1,844 crore in the April-June quarter of 2013-14, HDFC Bank said in a statement.

The total income of the bank rose to Rs 13,070.65 crore during the quarter under review, against Rs 11,588.56 crore in the same period last year.

The net interest margin for the bank declined to 4.4 per cent in the April-June quarter, against 4.6 per cent in the same period of the previous year.

However, interest earned by the bank increased 16.1 per cent to Rs 11,220.1 crore from Rs 9,663.0 crore in the same quarter last year.

The bank’s other income (non-interest revenue) surged 26 per cent to Rs 1,850.6 crore for the April-June quarter.

As of June 30, HDFC Bank’s gross non-performing assets (NPAs) increased marginally to 1.07 per cent of gross advances, against 1.04 per cent at the end of first quarter of the last fiscal.

Net non-performing assets stood at 0.3 per cent of net advances as on June 30, 2014.

Shares of HDFC Bank were trading 0.55 per cent up at Rs 837 apiece during afternoon trade on the BSE.


Leave Your Comment
SBI net up 3.3% in Q1, first profit growth in six quarters

SBI net up 3.3% in Q1, first profit growth in six quarters

PTI 3 years ago
Rising provision for bad loans have restricted State Bank of India’s net profit to a nominal increase of 3.3 per cent at Rs 3,349.08 crore...
ICICI Bank’s PAT rises 25.3%; overall group sees 32% increase in net profit in Q1

ICICI Bank’s PAT rises 25.3%; overall group sees 32% increase in net profit in Q1

TEAM VCC 4 years ago
ICICI Bank posted a 25.3 per cent rise in standalone net profit to Rs 2274.21 crore for the quarter ended June 30, 2013, compared with...
SBI trims net NPAs, Q4 profit up 23%

SBI trims net NPAs, Q4 profit up 23%

PTI 2 years ago
SBI on Friday reported 23 per cent jump in standalone net profit at Rs 3,742.02 crore in the fourth quarter ended March 2015 on improvement...
No Comments

HDFC Bank Q1 net profit up 21% but lags estimates

Powered by WordPress.com VIP