HDFC Bank on Saturday said its third-quarter net profit grew 20.3 per cent year-on-year on back of higher net interest income and other income.The lender reported a net profit of Rs 5,585.85 crore for quarter ended December 2018 against Rs 4,642.60 crore in same quarter last year.
An analyst poll by ETNow projected a net profit of Rs 5,603 crore in Q3 FY19.
Net interest income (NII) jumped 21.93 per cent YoY to Rs 12,576.75 crore during quarter under review.
NII is difference between interest earned on loans and that paid on deposits.Asset quality of HDFC Bank remained stable with gross non-performing assets (NPAs), as a percentage of total advances, came in at 1.38 per cent in December quarter, against 1.33 per cent in September quarter and 1.29 per cent a year ago.Provisions increased by 63.64 per cent YoY to Rs 2,211.53 crore, against Rs 1,351.44 crore in year-ago quarter.
Total balance sheet size as of December 31 stood at Rs 1,168,556 crore as against Rs 9,49,079 crore in same period last year.CASA deposits accounted for 40.7 per cent of total deposits as of December 31.
On Friday, shares of bank settled at Rs 2,131.20 on BSE, up 0.10 per cent against their previous close.
On other hand, BSE Sensex closed 0.03 per cent up at 36,386.61.