Home >Companies >Company Results >HDFC Bank Q4 net profit jumps 18% but falls short of estimates

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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