HDFC Bank Q1 net up 30.5% at Rs 1,417 cr

The net interest income rose 22.3% to Rs 3,484 crore

Private sector lender HDFC Bank today reported 30.6% growth in net profit to Rs 1,417.4 crore for the first quarter ended June, 2012.

The bank had earned net profit of Rs 1,085 crore in the April-June quarter of the 2011-12 fiscal, HDFC Bank informed the BSE.

The total income of the bank rose to Rs 9,536.9 crore in the April-June quarter, from Rs 7,098 crore in the same period last year -- an increase of 34.3%.

The bank's net interest income went up by 22.3% to Rs 3,484.1 crore in the quarter.

The net interest margin for the bank was 4.3% driven by 21.5% rise in loan growth.

Furthermore, the bank's overall balance sheet size grew by 25.9% to Rs 3,60,001 crore at the end of June.

As of June 30, 2012, HDFC Bank's portfolio quality remained healthy, with gross non-performing assets (NPAs) at 1% of gross advances and net non-performing assets at 0.2% of net advances.

The bank's Capital Adequacy Ratio (CAR) as of June 30 stood at 15.5%.

Shares of HDFC Bank were trading at Rs 584.40 apiece in the afternoon on the BSE, up 0.78%.