HDFC Bank Q1 net up 20.7 pc to Rs 2,695.72 crore

SRINAGAR: Private sector lender HDFC Bank Thursday said it registered a 20.72 per cent growth, at Rs 2,695.72 crore, in net profit for the quarter ended June 30.
The bank’s had earned a net profit of Rs 2,233.04 crore in the April-June quarter of 2014-15.
The total income of the bank rose 26.25 per cent to Rs 16,502.97 crore during the quarter under review compared with Rs 13,070.65 crore in the same period last year, HDFC Bank said in a release here.
The net interest margin for the bank declined marginally to 4.3 per cent in the April-June quarter as against 4.4 per cent in the same period of the previous year.
However, net interest income earned by the bank increased by 23.5 per cent to Rs 6,388.8 crore from Rs 5,171.6 crore in the same quarter last year.
The bank’s other income (non-interest revenue) grew by 33 per cent to Rs 2,461.9 crore for the April-June quarter.
As of June 30, HDFC Bank’s gross non-performing assets (NPAs) were at 0.95 per cent of gross advances, as against 1.07 per cent at the end of first quarter of the last fiscal.
Net non-performing assets stood at 0.27 per cent of net advances as on June 30, 2015.