HDFC Bank Q4 net soars 30% to Rs 1,453 crore

HDFC Bank on Wednesday reported 30.4 per cent jump in net profit at Rs 1,453.1 crore (Rs 14.53 billion) for the fourth quarter ended March, driven by increase in advances.

Its net profit in Q4, 2010-11 was Rs 1,114.70 crore (Rs 11.14 billion).

Total income of HDFC rose 32.1 per cent to Rs 8,880 crore (Rs 88.8 billion) in the January-March quarter of 2011-12, from Rs 6,724.3 crore (Rs 67.24 billion) in the year-ago period, HDFC Bank said in a filing to the Bombay Stock Exchange.

Net interest income (interest earned less interest expended) during Q4 was Rs 3,388.3 crore (Rs 33.88 billion), as against Rs 2,839.5 crore (Rs 28.39 billion) in the same period a year ago, registering a growth of 19.3 per cent.

This was driven by loan growth of 22.2 per cent and a core net interest margin (NIM) for the quarter of 4.2 per cent, the bank said.

The board of HDFC Bank has proposed a dividend of 215 per cent or Rs 4.30 per share on the face value of Rs 2 for the financial year ended March, 2012.

For 2011-12, the bank posted net profit of Rs 5,167.1 crore (Rs 51.67 billion), an increase of 31.6 per cent from Rs 3,926.39 crore (Rs 39.26 billion)

in the previous year.

HDFC earned an income of Rs 32,530 crore (Rs 325.3 billion) during the year, compared to Rs 24,263.4 crore (Rs 242.63 billion) in the previous fiscal.

The bank's consolidated net profit increased by 31.4 per cent to Rs 5,247 crore (Rs 52.47 billion) in 2011-2012.

Its total balance sheet size increased by 21.8 per cent to Rs 3,37,909 crore (Rs 3,379.09 billion), from Rs 2,77,353 crore (Rs 2,773.53 billion) as of March 31, 2011.

Recording a growth of 22.2 per cent, total gross advances were at Rs 1,95,420 crore (Rs 1,954.2 billion) while total deposits grew by 18.3 per cent at Rs 2,46,706 crore (Rs 2,467. 06 billion).

The Capital Adequacy Ratio of the bank stood at 16.5 per cent at the end of 2011-2012 as against 16.2 per cent as of March 31, 2011.

The gross non-performance asset as a proportion of advances declined to 1 per cent against 1.1 per cent in the previous fiscal.

Net NPA, however, remained stable at 0.2 per cent during the year, it said.