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HDFC Bank Q4 profit up 23% at Rs 5,885 crore

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HDFC Bank on Saturday reported a 22.62 percent year-on-year (YoY) jump in net profit at to Rs 5,885.12 crore for the fourth quarter ended March 2019.

Private sector lender HDFC Bank on Saturday reported a 22.62 percent year-on-year (YoY) jump in net profit at Rs 5,885.12 crore for the fourth quarter ended March 2019, driven by growth in net interest income as well as operating income.
In the corresponding quarter last year, the bank posted a net profit of Rs 4799.28 crore. CNBC-TV18 Polls had predicted a profit of Rs 5,805.3 crore for the quarter under review.
The bank's total income for the quarter ended March 31, 2019 is at Rs 31,204.5 crore up 22.1 percent from Rs 25,549.7 crore reported in the corresponding quarter last year.
Net interest income of the bank increased to 22.8 percent YoY to Rs 13,089.5 crore led by healthy loan growth, the bank said in a regulatory filing.
Other income rose 15.2 percent YoY to Rs 4,871.2 crore and operating income jumped 22.7 percent to Rs 10,843.6 crore in the quarter under review.
The bank said its total loan book grew by 24.5 percent YoY at Rs 8,19,401 crore, as of March 2019.
On asset front, bank's gross non-performing assets (NPA s) were at 1.36 percent of gross advances as on March 31, 2019, as against 1.30 percent as on March 31, 2018.
Net non-performing assets or bad loans were at 0.30 percent of net advances against 0.40 percent. The lender said that it held floating provisions of Rs 1,451 crore as on March 31, 2019.
The board of directors has recommended a dividend of Rs 15 per equity share for the year ended March 31, 2019, subject to the approval of the shareholders at the ensuing annual general meeting of the bank, the lender said.
The board also approved raising up to Rs 50,000 crore through private placement of debt instruments in the next 12 months.
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