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HDFC Bank’s Q4 profit jumps 23%, beats Street estimate; bad loan provision grows to Rs 1,889 cr

Percentage of gross non-performing assets stood at 1.36 per cent

ETMarkets.com|
Updated: Apr 20, 2019, 08.15 PM IST
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HDFC Bank Q4 profit beats Street estimate, jumps 23% to Rs 5,885 cr
HDFC Bank Q4 profit beats Street estimate, jumps 23% to Rs 5,885 cr
NEW DELHI: HDFC Bank on Saturday reported a 22.63 per cent year-on-year (YoY) jump in March quarter net profit at Rs 5,885.12 crore, which was better than the Rs 5,805 crore profit estimate that analysts had projected in an ETNow poll.

The second largest domestic lender had reported Rs 4,799.28 crore profit for the same quarter last year.

Net interest income (NII) rose 22.8 per cent YoY to Rs 13,089.50 crore. The numbers were driven by driven by an average asset growth of 19.8 per cent.

Net interest margin (NIM), which is the difference between interest income earned and the interest paid by a bank, came in at 4.4 per cent compared with 4.3 per cent in December quarter and 4.4 per cent in the year-ago quarter.

Provisions for the quarter rose to Rs 1,889.20 crore from Rs 1,541.10 crore in the year-ago quarter.

Percentage of gross non-performing assets stood at 1.36 per cent as of March end against 1.38 per
cent in the December quarter and 1.30 per cent in the same quarter of the previous year.

Net NPA stood at 0.4 per cent.

The board of directors has recommended a dividend of Rs 15 per share for FY19 against FY18's Rs 13 per share.
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