Published: Sat, April 21, 2018
Entertaiment | By Mabel Barber

HDFC Bank Q4 net up 20% at Rs 4799 cr

HDFC Bank Q4 net up 20% at Rs 4799 cr

Private sector lender HDFC Bank on Saturday posted a 20.3 per cent increase in its net profits for the fourth quarter ended March 31 at Rs 4,799.3 crore, led by stable asset quality. Net profit for the largest private lender in India during the March quarter reached Rs 4,799 crore as opposed to the Rs 3,990 crore during the corresponding period a year ago.

Net profit for the reporting quarter came in at Rs 4,799.3 crore compared with Rs 3,990.09 crore in the corresponding period of the previous financial year.

HDFC Bank net interest income (NII) as on March 2018, came in at Rs 10,657.69 crore, registering growth of 17.70% and 3.32% in comparison with NII of Rs 9,055.10 crore in Q4FY17 and Rs 10,314.34 crore in Q3FY18 respectively.

Provisions and contingencies were Rs 15.41 billion, as against Rs 12.61 billion in the year-ago March quarter. This would be subject to approval by the shareholders at the next annual general meeting. In absolute terms, gross NPA in March end was ₹8,607 crore as compared with ₹5,886 crore in the year earlier period. It should be noted that the percentage of NPAs remained low and stable, with the figure at March-end at just 0.40 per cent as compared to 0.44 per cent at the end of December. At the same time, HDFC Bank's bad loans rose.

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Asuthosh Kumar Mishra of Reliance Securities said, "The March quarter numbers are satisfactory and in line with the expectations".

During the quarter under review, provisions for bad loans met expectations at Rs 1,541 crore, up 22 percent from Rs 1,262 crore in the March quarter previous year. The brokerage announced yearly rise of 21.70 per cent in NII and 17.90 per cent in pre-provision operating profit (PPOP) throughout the quarter under consideration.

The lender also reported 18.7% growth in advances over March 2017 contributed by both retail and corporate loans. The retail: wholesale mix was at 57:43.

Consolidated advances grew by 19.6 per cent from Rs 5,85,481 crore as on March 31, 2017 to Rs 7,00,034 crore as on March 31, 2018. Sequentially, provisions rose by 14 percent. Comparatively, the NPAs of HDFC Bank stood at 1.29 per cent in the previous quarter and 1.05 per cent a year before. Risk-weighted Assets were at Rs 800,126 crore (as against Rs 640,030 crore as at March 31, 2017).

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