HDFC Bank Q4 net profit jumps 18% but falls short of estimates1 min read . Updated: 17 Apr 2021, 03:02 PM IST
- Net profit during the quarter rose to ₹8,186.51 crore but was lower than ₹8,436 crore estimated by a Bloomberg poll of 14 analysts
Mumbai: Private sector lender HDFC Bank on Saturday reported an 18.17% year-on-year (y-o-y) jump in net profit for the three months to March owing to a rise in net interest income (NII) and other income.
Net profit during the quarter rose to ₹8,186.51 crore compared to ₹6,927.69 crore reported in the same quarter last year. However, it was lower than ₹8,436 crore estimated by a Bloomberg poll of 14 analysts.
Net interest income, the difference between interest earned and interest expended, grew 12.60% YoY to ₹17,120.15 crore for the quarter ended March. Non-interest income rose 25.88% to ₹7,593.91 crore.
Provisions rose 24.02% during the quarter to ₹4,693.70 crore.
Gross non-performing assets (NPAs) as a percentage of total loan rose to 1.32% compared to 1.26% a year ago and 0.81% in the quarter ended December.
Net NPAs rose to 0.40% from 0.36% in the same quarter last year and 0.09% in the previous quarter.
Total advances during the June quarter grew 14% YoY to ₹11.33 trillion and deposits rose 16.34% year-on-year to ₹13.35 crore.
Shares of HDFC Bank closed at ₹1,428.45 on the BSE on Friday, down 0.12% from its previous close.
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