HDFC bank reports Rs 3,990 cr profit in March quarter

PTI

Published : Apr 21, 2017, 2:15 pm IST

Updated : Apr 21, 2017, 2:22 pm IST

Second largest private sector lender posted a net profit of Rs 3,374 crore in Jan-March last year.

New Delhi: 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.