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HDFC Bank Q4 Net Rises 18%; Bad Loan Provisioning Soars
HDFC Bank today reported an 18.2 per cent growth in net profit at Rs. 3,990 crore for the March quarter.
HDFC Bank today reported an 18.2 per cent growth in net profit at Rs. 3,990 crore for the March quarter.
The country's second largest private sector lender had posted a net profit of Rs. 3,374 crore in the January-March period of 2015-16 fiscal.
Bad loans provisioning rose sharply during the quarter to Rs. 1,261 crore, up from Rs. 662 crore in the January-March period of 2015-16, it said in a BSE filing.
Total income during the fourth quarter rose to Rs. 21,560 crore, up from Rs. 18,862 crore in the same quarter of the previous fiscal.
For full 2016-17 fiscal, HDFC Bank reported a net profit of Rs. 14,549 crore, a growth of 18.3 per cent over the previous financial year.
Gross non-performing assets (NPA) of the bank as a percentage of total advances rose to 1.05 per cent during the March quarter, from 0.94 per cent in the same quarter of 2015 -16 fiscal.
Shares of HDFC Bank were trading at Rs. 1,468.75, up 0.47 per cent over their previous close on the BSE.
