HDFC Bank Q3 FY13 net profit up 30% at Rs 1860 crore

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HDFC Bank Q3 net profit up 30% at Rs 1860 crore
HDFC Bank: Quotes, News
BSE 1753.70BSE Quote13.45 (0.77%)
NSE 1752.15NSE Quote13.25 (0.76%)
HDFC Bank, the second largest private sector bank in India, has reported 30% rise in its net profit at Rs 1860 crore, in line with expectations.

HDFC Bank's total income rose to Rs 10,506 crores as against Rs 8,622 crores for the quarter ended December 2011.

Net revenues rose 23%to Rs 5,597 crores against Rs 4,536 crores for the corresponding quarter of the previous year.

Gross NPA's were at 1%, against 0.9% quarter on quarter.

Net interest income of the bank grew by 21.9% to Rs 3,798 crores, while the net interest margin stood at 4.1%

Recently, HDFC Bank has been named Organisation of the Year at the Skoch Financial Inclusion Awards 2013. HDFC Bank received the award for using technology as a common thread for all its initiatives in micro-credit, micro-savings, micro-insurance, capacity building, financial literacy and Self Help Group (SHG) Linkage.

Shares of the company were seen trading at Rs 662 lower by 0.73% on BSE at 1.10 pm IST.

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