HDFC Banks net profit rises by 20% yoy to Rs. 3,239 crore
The banks NII (net interest income) was at Rs. 7,781.44, witnessing rise of 21.79% yoy and 4.40% qoq(quarter-on-quarter).While its total income stood at RS. 19,322.63 crore, up by 17.08% yoy and 2.43% qoq.
Major private lender, HDFC Bank reported net profit of Rs. 3,238.91 crore for the June quarter ended (Q1FY17), registering growth of 20.15% yoy(year-on-year).
However, the bank’s net profit declined by 4% in comparison with preceding quarter.
The bank’s NII (net interest income) was at Rs. 7,781.44, witnessing rise of 21.79% yoy and 4.40% qoq(quarter-on-quarter).While its total income stood at RS. 19,322.63 crore, up by 17.08% yoy and 2.43% qoq.
The top-line was driven by average asset growth of 20.2% and a net interest margin (NIM) of 4.4% during this quarter.
Provision and contingency was around Rs. 866.73 crore, increasing by 19.05% yoy and 30.83% qoq.
HDFC Bank dipped by 3.70 points or 0.30% to Rs. 1,229.
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