HDFC Bank, the second largest private sector lender, today reported its 52nd consecutive quarter of over 30% rise in net profit.
The private lender's profit after tax for the quarter ended September 30, 2012 increased by 30.1% from a year ago to Rs 1,560 crore driven by stable margin, higher interest income and lower provisions.
Net interest income, or the difference between interest income and interest expense, rose by 26.7% from a year earlier to Rs 3,732 crore. Net interest margin was stable at 4.2% during the quarter.
Asset quality remained healthy with gross non-performing asset ratio at 0.9% and net bad loan ratio at 0.2% at the end of September, 2012. This allowed the bank to make lower provisions during the quarter.
Total restructured loans, including applications received and under process, were 0.3% of gross advances.
HDFC Bank's net advances were at Rs 231,649 crore, up close to 23% from a year ago. The mix of loans between retail and wholesale segments was 53:47 at the end of July-September quarter.
Deposits grew by almost 19% to Rs 2,74,130 crore. The share of low-cost current account savings account (CASA) deposits, net of one-off current account balances, was 45.9% at the end of September 30, 2012.
The bank closed the quarter with a capital adequacy ratio of 17%.
The bank's stocks were trading 1.2% higher at Rs 632 on BSE at 1345 hours.
