HDFC Bank net profit rises 20% to Rs 48 bn; asset quality remains stable

Other income, comprising fees and other non-interest income, stood at Rs 42.28 billion

Private sector lender HDFC Bank’s net profit rose 20.3 per cent to about Rs 48 billion for the quarter ended March 31, 2018, from Rs 40 billion in the year-ago quarter.
 

The bank’s asset quality remained stable as its gross non-performing assets (NPAs), as a percentage of total advances, stood at 1.30 per cent, flat against 1.29 per cent in the December quarter. In the year-ago quarter, the gross NPA ratio was 1.05 per cent. Gross NPAs amounting to Rs 3.7 billion were added in the March quarter, the bank said in a statement.

Lalitabh Shrivastawa, assitant vice-president, research, Sharekhan said,"HDFC