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HDFC Bank Posts Profit Of Rs 5,885 Crore In March Quarter

Analysts were looking for a profit of Rs 5,846 crore, according to IBES data from Refinitiv.

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HDFC Bank Posts Profit Of Rs 5,885 Crore In March Quarter

HDFC Bank is the first major lender to report results for the final quarter of the year.


 HDFC Bank reported a record quarterly net profit of Rs 5,885 crore on Saturday, meeting market expectations as the country's biggest lender by market value raked in higher interest and fee income.

The bank also said its board had approved raising up to Rs 50,000 crore by issuing debt over the next 12 months.

Net profit rose 22.6 per cent in the fourth quarter through March from Rs 4,799 crore a year ago. Analysts were looking for a profit of Rs 5,846 crore, according to IBES data from Refinitiv.

The private sector lender, which focuses on retail consumers and has a relatively small exposure to the troubled infrastructure sector, has been able to tame its bad loans and stay profitable at a time when high levels of soured assets have swept the sector.

HDFC Bank is the first major lender to report results for the final quarter of the year.

Overall its loans grew 24.5 per cent as of end-March, of which domestic retail loans climbed 19 per cent.

Net interest income was up 22.8 per cent, while the net interest margin was 4.4 per cent.

Asset quality improved slightly, with gross bad loans as a percentage of the total at 1.36 per cent by the end of March, compared with 1.38 per cent in the previous quarter and 1.30 per cent in the same period last year.



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