HDFC Bank Q1 net profit up 30% at Rs 1,844 crore

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Private sector lender HDFC Bank on Wednesday reported 30 per cent growth in net profit at Rs 1,843.86 crore for the first quarter ended June, 2013.

The bank had earned net profit of Rs 1,417.39 crore in the April-June quarter of the 2012-13, HDFC Bank informed the Bombay Stock Exchange.

The total income of the bank rose to Rs 11,588.56 crore in the April-June quarter, from Rs 9,536.9 crore in the same period last year.

The net interest margin for the bank was 4.6 per cent as compared to 4.3 per cent in the same period of the previous year.

As of June 30, 2013, HDFC Bank’s portfolio quality remained healthy, with gross non-performing assets (NPAs) at one per cent of gross advances and net non-performing assets at 0.3 per cent of net advances.

The bank’s capital adequacy ratio (CAR) as of June 30 stood at 15.5 per cent.

Shares of HDFC Bank were trading at Rs 655.90 apiece in the afternoon on the BSE, down 3.35 per cent from their previous close.

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