HDFC Bank net profit up by 30% in Q4 on strong interest income
By Neelima Shankar
Apr 24, 2013
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The private sector lender, HDFC Bank 's net profit increased by 30 per cent year-on-year to Rs 1,889 crore in the fourth quarter ended March 2013.

Country's second largest private sector lender had reported a net profit of Rs 1,453 crore in the year-ago quarter.

Net interest income (interest earned less interest expended) for the quarter grew by 21 per cent to Rs 4,295 crore (from Rs 3,561 crore in Q4FY12) driven by loan growth and higher net interest margin (NIM).

"Other income declined by 6 per cent to Rs 1,804 crore from (Rs 1,928 crore) due to moderation in fee income and de-growth in foreign exchange trading," said Mr. Paresh Sukthankar, Executive Director, HDFC Bank.

Meanwhile, net interest margin improved to 4.5 per cent from 4.4 per cent in the year-ago quarter.

Gross non-performing asset (NPA) declined to 0.97 per cent in fourth quarter as against 1.02 per cent in fourth quarter last year, while net NPA remained unchanged at 0.2 per cent during the quarter.

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