The country's largest private sector lender HDFC Bank Ltd reported a 20.2 percent rise in net profits for the fourth quarter of the financial year 2017-18, backed by its stable asset quality.
In a regulatory filing today, HDFC Bank reported a year-on-year (YOY) increase in net profit to Rs 4,799 crore from Rs 3,990 crore in the same quarter under question in the previous fiscal year.
Its core income from operations, known as Net Interest Income (NII) was up by 17.7 percent to Rs 10,658 crore for the January-March 2018 quarter from Rs 9,055 crore in the same quarter last year.
Its gross non-performing assets (NPA) ratio was at 1.3 percent, keeping its asset quality stable. It was 1.29 for the September- December 2017 quarter (Q3).
HDFC Bank's other income was reported to be Rs 4,228.6 crore. Provisions for bad loans increased to Rs 1,541 crore from Rs 1,352 crore in Q3. Total deposits saw a 22.5 percent year-on-year increase to Rs 7.8 lakh crore. Reports also show a loan growth of 18.7 percent from the corresponding quarter last year, bringing total advances to Rs 6.58 lakh crore.
Net interest margin remains unchanged at 4.3 percent.