Hdfc Bank Q1 Net Up 30%

Total income rises by 28 per cent to Rs 717.19 crore

HDFC Bank has reported a 30.17 per cent rise in net profit to Rs 107.28 crore for the first quarter ended June 30, 2003 as against Rs 82.41 crore in the corresponding period the previous fiscal.

The total income of the bank increased by 27.95 per cent to Rs 717.19 crore as against Rs 560.48 crore in the first quarter last year.

The interest income of the bank rose by 21.9 per cent to Rs 584.46 crore as against Rs 479.16 crore the previous year. The non-interest income rose by 63.21 per cent to Rs Rs 132.7 crore (Rs 81.3 crore).

 

The other income consisted principally of fees and commissions of Rs 65 crore, profit on sale of investments of Rs 38.6 crore and foreign exchange and derivatives revenues of Rs 28.8 crore.

The operating expenses for the first quarter increased by 61.04 per cent to Rs 193.54 crore from Rs 73.4 crore.