HDFC Bank Q4 net profit at Rs 1,889 crore; meets expectations

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HDFC Bank Q4 net profit at Rs 1,889 crore; meets expectation
HDFC Bank: Quotes, News
BSE 1746.00BSE Quote1.7 (0.10%)
NSE 1745.00NSE Quote1.8 (0.10%)
HDFC Bank, the second largest private sector bank in India, has reported rise 30% in its net profit at Rs 1889 crore, in line with expectations.

The net NPA stood unchanged at 0.2%. The banks Net Interest Margin stood at 4.5% against 4.3% on quarter-on-quarter basis.

Net interest income for the this quarter came in above estimates at Rs 4,290 crore against Rs. 3,388.31 crore during the same quarter in the previous period.

The bank's Board today recommended an increase in dividend to Rs 5.50 per equity share of the face value of Rs 2, up from Rs 4.30 per share last year.

Shares of the company were seen trading lower by 1.64% at Rs 687 on BSE at 2.40 pm IST, as investors remained concerns over valuations. The stock touched an intra-day high of Rs 704 and low of Rs 682 during the trade.

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