subject: Hdfc Bank Net Jumps 32percent Q4 [print this page] HDFC Bank reported a 32.61 % jump in its fourth quarter net profit at Rs 836.62 crore on the back of strong loan growth.
Higher loan disbursals helped the bank's interest income to grow by 27 % during the quarter, said Executive Director Paresh Sukthankar HDFC Bank.
During the quarter, the net revenues (net interest income plus other income) were Rs 3,254.9 crore compared to Rs 2,966.7 crore in the same quarter a year ago, he said.
Net interest income (interest earned less interest expended) rose to Rs 2,351.4 crore, up by 27 % over the same quarter a year ago, he added.
However, the bank's total income fell to Rs 4,956.66 crore in the January-March quarter of the last fiscal from Rs 5,365.52 crore in the year-ago period.
The board of HDFC Bank proposed a dividend of Rs 12 per share for the year ended March 31, 2010.
During the quarter, other income (non-interest revenue) was Rs 903.6 crore. The main contributor to other income for the quarter was fees and commissions of Rs 765.3 crore, up by 5.7 % over Rs 723.7 crore in the preceding quarter.
However, the bank reported a treasury loss of Rs 47.3 crore on sale of investments during the quarter as against a profit of Rs 243.6 crore in a same quarter a year ago with an increase in bond yields.
For the entire financial year 2009-10, the bank posted a net profit of Rs 2,948.69 crore, representing an increase of 31.34 % from Rs 2,244.95 crore in the previous year.
On consolidated basis, net profit for the bank increased by 33.6 % to Rs 3,003.7 crore during the year.
The total income of the bank on annual basis rose by 13.8 % at Rs 19,980.5 crore while net revenues were Rs 12,194.2 crore against Rs 10,711.8 crore a year ago.
Total business at the end of March stood at Rs 2, 22,459 crore, registering a growth of 21.4 %. Recording a growth of 27 % total total gross advances was at Rs 1, 27,262 crore but total deposits grew by 17.2 % at Rs 1,67,404 crore.
The bank total Capital Adequacy Ratio (CAR) as at March 31, 2010 stood at 17.4 % as against 15.7 % as of March 31, 2009.
