HDFC Bank Q3 net up 31% y-o-y

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oi-Sneha

By Sneha B K

Published: Thursday, January 19, 2012, 15:43 [IST]

Housing Development Finance Corporation (HDFC) Ltd. announced its financial results for quarter ended December 31, 2011. During the quarter the company has reported 31% year on year (y-o-y) increase in its net profit to Rs 1,430 crores.

The bank has reported the total income of Rs 8,622.6 crores an increse of 36.6% over Rs 6,357.8 crores, for the quarter ended December 31 2011. Net revenues were RS 4,536 crore over Rs 3,904 crore corresponding quarter previous year.

Non-interest revenue, along with income from fees and commissions for trading foreign exchange and derivatives, rose to 25.9%

Net interest income from its core banking operations rose about 12.2% to Rs 3,116 crores. Net Interest margin remained stable at 4.1% while net non-performing assets were untouched at 0.2 %

As on December 31, 2011, the Bank's distribution network was 2,201 branches and 7,110 ATM's in 1,174 cities .

Meanwhile, on BSE the shares of the company were trading at Rs 483.50 up by 3.20 points or 0.67%.

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