HDFC Bank Profit Rises 18% To Rs 8,186 Crore In March Quarter

On a sequential basis, the standalone net profit declined 6.5 per cent, compared to Rs 8,758 crore reported at the end of the preceding October-December quarter in the financial year 2020-21, according to HDFC Bank. (Also Read: HDFC Bank Q3 Results: Net Profit Jumps 18% To Rs 8,758.3 Crore, Asset Quality Improves ) HDFC Bank's net interest income - the difference between interest earned and interest expended - grew by 12.6 percent to Rs 17,120 crore in the fourth quarter, compared to Rs 15,204 crore, in the year-ago period. This was driven by loan growth of 14 per cent and a core net interest margin of 14.2 per cent. The bank's non-interest revenue (other income) at Rs 7,593.9 crore in the fourth quarter was 30.7 per cent of the net revenues, and marked a growth of 25.9 per cent, compared to Rs 6,032.6 crore in the year-ago period. The operating expenses for the fourth quarter were Rs 9,181.3 crore crore, an increase of 10.9 per cent over Rs 8,277.8 crore during the corresponding quarter of the previous fiscal. The cost-to-income ratio for the quarter was at 37.2 per cent, compared to 39 per cent, in the year-ago period. (Also Read: HDFC Bank Edges Higher On Fund-Raising Plans ) HDFC Bank's net revenues or net interest income plus other income grew to Rs 24,714.1 crore in the fourth quarter of the financial year, compared to Rs 21,236.6 crore in the same quarter of previous fiscal. The bank said that as of March 31, 2021, the gross non-performing assets (NPA) stood at 1.32 per cent of gross advances, compared to 1.38 per cent at the end of the December quarter, and against 1.26 per cent in the year-ago period. HDFC Bank said that it would not make any dividend payment for the financial year ended March 2021 due to the second wave of COVID-19 in the country. It continues to hold provisions against the potential impact of the pandemic in the excess of the RBI prescribed norms. In the third quarter of the financial year 2020-21, HDFC bank reported a net profit of Rs 8758.3 crore, marking an 18.1 rise in the October-December quarter on year-on-year basis. The bank reported a pre-provision operating profit of Rs 15,532.8 crore, which marked a growth of 19.9 per cent, compared to the corresponding quarter of the previous fiscal. Profit before tax stood at Rs 10,839.1 crore in the fourth quarter, up 18.1 per cent. On Friday, April 16, shares of HDFC Bank settled 0.12 per cent lower at Rs 1428.45 apiece on the BSE.

HDFC Bank Profit Rises 18% To Rs 8,186 Crore In March Quarter

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