HDFC Bank Jan-March Net Profit Rises Over 30% To INR14.53 Billion
April 18 2012 - 4:05AM
Dow Jones News
India's HDFC Bank Ltd. (500180.BY) Wednesday reported a more
than 30% jump in fiscal fourth-quarter net profit, aided by higher
interest income and a drop in provisions.
Net profit for the January-March quarter rose to INR14.53
billion from INR11.15 billion a year earlier, the lender said in a
filing with stock exchanges.
The market was expecting a net profit of INR14.41 billion,
according to a Dow Jones Newswires poll of six analysts.
The bank's interest income rose to INR73.88 billion from
INR54.69 billion a year earlier, while its other income--from fees,
commissions and foreign-exchange and treasury
transactions--increased nearly 19% to INR14.92 billion.
The lender's provisions against bad loans and other
contingencies dropped to INR2.98 billion from INR4.31 billion a
year earlier.
-By Nupur Acharya; Dow Jones Newswires; +91-22-61456117;
nupur.acharya@dowjones.com
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