Home Economy HDFC Bank quarterly net profit rises 31 percent

HDFC Bank quarterly net profit rises 31 percent


Mumbai : HDFC Bank Friday posted 30.6 percent net profit at Rs.1,417.4 crore on stronger loan growth and higher interest margins during the quarter ended June 30 against Rs.1,084.98 crore in the like period of the previous financial year.

The total income stood at Rs.9,536.9 crore during the quarter under review against Rs.7,098 crore during the year- ago period, the company said in a regulatory filing.

The bank’s total balance sheet increased by 25.9 percent to Rs.3,60,001 crore as of June 30, 2012 from Rs.2,85,942 crore as on June 30, 2011.

Total net advances as of June 30, 2012 were Rs.2,13,338 crore an increase of 21.5 percent over June 30, 2011.

The bank’s Capital Adequacy Ratio (CAR) stood at 15.5 percent during the period under review.

At the Bombay Stock Exchange, shares of the bank closed 1.21 percent at Rs.586.85.