Mumbai: Private sector lender HDFC Bank has reported a net profit of Rs464.35 crore for Q1FY09 ended June 2008, against Rs321.23 crore in the corresponding period a year-ago.
“The total income rose to Rs4,215.15 crore in the June quarter, from Rs2,641.70 crore in the same period of FY08,” HDFC Bank said in a filing to the Bombay Stock Exchange.
“The results of the quarter are not comparable with that of the corresponding period last year as the merger of the bank with Centurion Bank of Punjab (CBoP) became effective on 23 May, 2008,” the filing said.
Driven by average asset growth, the bank’s net interest income rose 75% to Rs1,723.50 crore.
“As of 30 June, the bank had 1,229 branches and 2,526 ATMs in 444 cities,” it added.
Earlier this year, the bank’s board had approved issuance of one equity share in HDFC Bank for every 29 held in CBoP on account of the merger.
Shares of HDFC Bank were trading at Rs1,129.95, up 0.25% in the late afternoon trade on the BSE.