Private lender HDFC Bankon Saturday reported an 18.17 per cent year-on-year (YoY) growth in net profit at Rs 4,601.44 crore for the quarter ended June.
The largest private lender by market cap had posted a net profit of Rs 3,893.84 crore in the same quarter last year.An earlier ETNow poll had pegged net profit at Rs 4,710 crore.Net interest income (NII) -- the core income from operations -- jumped 15.40 per cent to Rs 10,813.57 crore in Q1 FY19, from Rs 9,370.74 crore a year ago.Asset quality remained stable during the quarter under review.Ratio of gross non-performing assets (NPAs) stood at 1.33 per cent for April-June against 1.30 per cent in the March quarter.
Percentage of net NPAs read 0.41 per cent against 0.40 per cent on a QoQ basis.Provisions and contingencies jumped to Rs 1,629.37 crore in the said quarter, from Rs 1,541,10 crore in January-March.
In the previous year, the figure stood at Rs 1,558.60 crore.Total balance sheet as of June 30 was Rs 10,80,409 crore compared with Rs 8,95,653 crore last year.