Private sector HDFC Bank posted a 20.6 per cent increase in its net profit to ₹5,005.7 crore in the second quarter of the fiscal as against ₹4,151.03 crore in the same period a year ago.
Robust income
The bank’s total income grew 21.2 per cent to ₹28,215.2 crore (₹23,276.2 crore).
Net interest income for the second quarter grew by 20.6 per cent to ₹11,763.4 crore (₹9,752.1 crore), driven by an average asset growth of 22.9 per cent and a net interest margin for the quarter of 4.3 per cent, the bank said in a statement on Saturday.
The lender’s provisions and contingencies for the second quarter of 2018-19 grew by 23.2 per cent to ₹1,820 crore (₹1,476.2 crore).
Bad loans down
Gross non-performing assets were at 1.33 per cent of gross advances as on September 30, 2018 as against 1.33 per cent as on June 30, 2018 and 1.26 per cent as on September 30, 2017. Net non-performing assets stood at 0.4 per cent of net advances as on September 30, 2018, slightly lower than the 0.43 per cent a year ago.
The bank said its total balance sheet size as of September 30, 2018, was ₹11,69,898 crore (₹9,33,637 crore).
Total deposits grew by 20.9 per cent to ₹8,33,364 crore by the end of the second quarter compared to a year ago.
Meanwhile, total advances increased by 24.2 per cent to ₹7,50,838 crore by September 30, 2018.