HDFC Bank net up in first quarter

HDFC Bank on Tuesday said it closed the first quarter of the current fiscal with 20.7 percent growth in its net profit.

In a statement here, the bank said its after tax profit for the quarter ended June 30, 2015 stood at Rs.2,695.7 crore as against Rs.2,233 crore logged during the previous year's corresponding period.

HDFC Bank's total income for the period under review stood at Rs.16,503 crore, up from Rs.13,070.7 crore earned during the quarter ended June 30, 2014.

According to the bank, provisions and contingencies for the quarter ended June 30, 2015 were Rs.728 crore as against Rs.482.8 crore for the corresponding quarter of the previous year.

Total deposits as of June 30, 2015 were Rs.484,174 crore, an increase of 30.1 percent over June 30, 2014.

Advances as of June 30, 2015 were Rs.382,010 crore, an increase of 22.4 percent over June 30, 2014.

Gross non-performing assets (NPAs) were at 0.95 percent of gross advances as on June 30, 2015, as against 1.07 percent as on June 30, 2014.

Net NPA were at 0.3 percent of net advances as on June 30, 2015.

Total restructured loans (including applications under process for restructuring) were at 0.1 percent of gross advances as of June 30, 2015 as against 0.2 percent as of June 30, 2014.