HDFC Q3 net up 25% to `2326 cr; asset quality firm

SRINAGAR: HDFC Bank Friday reported 25.1 percent jump in net profit to Rs 2,325.70 crore for the third quarter ended December, 2013-14 fiscal.
It had posted net profit of Rs 1,859.07 crore for the October-December period in 2012-13.
HDFC’s net interest income in Q3, 2013-14 was up 16.4 percent at Rs 4,634.8 crore, from Rs 3,981.6 crore in the year-ago period.
The non-interest income increased by 31.7 percent to Rs 2,148.3 crore, HDFC Bank said in a statement.
The net interest margin of the bank declined marginally to 4.2 percent as against 4.3 percent.
The bank’s total Q3 income moved up to Rs 12,739 crore, from Rs 10,818.13 crore year-ago period, it said.
For the first three quarters of 2013-14, the bank clocked nearly 27 percent rise in net profit to Rs 6,151.9 crore, compared to Rs 4,836.44 crore in the 9-months of 2012-13.
The bank reported a total income of Rs 36,265.2 crore in the first nine months of the current fiscal, compared to Rs 30,790.0 crore in the previous financial year.
Capital Adequacy Ratio (CAR) for the bank as per the Basel III norms was 14.7 percent at the end of the third quarter.
As on December 31, 2013, Gross NPAs and Net NPAs stood at 1 percent and 0.3 percent respectively.