HDFC Bank Q4 net profit up 22% to Rs 5,885 crore on interest income growth

HDFC Bank on Saturday reported a 22.6 per cent increase in net profit to Rs 5,885.1 crore for the March quarter of 2018-19. The private sector bank had registered a net profit of Rs 4,800 crore in the year-ago quarter. A healthy growth rate in net interest income helped the lender meet profit estimates.

Net interest income for the quarter increased 22.8 per cent to Rs 13,089.5 crore from Rs 10,657.7 crore in the same period of the previous financial year.

The bank said the increase was driven by an average asset growth rate of 19.8 per cent and a core net