HDFC Bank today reported a 32.61 per cent 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 per cent during the quarter, said HDFC Bank Executive Director Paresh Sukthankar.
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 per cent 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 per cent 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 per cent from Rs 2,244.95 crore in the previous year.
On consolidated basis, net profit for the bank increased by 33.6 per cent to Rs 3,003.7 crore during the year.
The total income of the bank on annual basis rose by 13.8 per cent 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 per cent. Recording a growth of 27 per cent total total gross advances was at Rs 1,27,262 crore but total deposits grew by 17.2 per cent at Rs 1,67,404 crore.
The bank’s total Capital Adequacy Ratio (CAR) as at March 31, 2010 stood at 17.4 per cent as against 15.7 per cent as of March 31, 2009.
The ratio of net non-performing assets to net advances as of March 31, 2010 was at 0.31 per cent, down from 0.63 per cent as of March 31, 2009.
