 "HDFC Bank strengthens on jump in Q4 net")
HDFC Bank has firmed up on the bourses after reporting a 23% increase in net profit for the quarter ended March 2014. The stock is trading at Rs 726, up Rs 9 or 1.2%, on the BSE.
The private sector bank reported profit of Rs 2,326 crore for the quarter ended March 2014 as against Rs 1,890 crore a year earlier. The other income rose 11% to Rs 2,001 crore as against Rs 1,803 crore in March 2013.
In yearly terms, the provisions for the quarter were down 24% at Rs 296 crore but the net interest income was up 15% at Rs 4,953 crore. The gross NPA was flat at 1%. Net interest income rose 15.3% to Rs 4,953 crore.
Meanwhile, the Mumbai-based bank announced a dividend of Rs 6.85 per share.
The shares had opened at Rs 720 and have touched a high of Rs 728 and a low of Rs 718 on the BSE thus far.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%