HDFC Bank Q3 net profit rises record 20% to Rs 46.43 billion

Gross bad loans as a percentage of total loans stood at 1.29 per cent at end-December, versus 1.26 per cent at end-September

Private lender HDFC Bank today reported a 20.1 per cent growth in net profit to Rs 46.63 billion for the third quarter of the current fiscal.

The private sector bank had posted a net profit of Rs 38.65 billion in the October-December quarter of last fiscal.

Total income rose to Rs 244.50 billion during the December quarter, up 17.84 per cent from Rs 207.48 billion in the year-ago period.

Net interest income grew by 24.1 per cent to Rs 103.14 billion during the quarter under review from Rs 83.09 billion reported in the corresponding quarter a year ago. HDFC Bank's net interest margin stood at 4.3 per cent for the quarter.

The net non-performing assets (NPAs) as a percentage of total loans rose marginally to 0.44 per cent at the end of December, from 0.32 per cent in same period last year.

HDFC Bank's provisions (other than tax) and contingencies increased to Rs 13.51 billion as against Rs 7.15 billion reported in the corresponding period a year ago.

Shares of HDFC Bank ended one per cent up at Rs 1,951.20 on the BSE on Friday.