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HDFC Bank Q4 net jumps 23 per cent to Rs 2,326.52 crore

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HDFC Bank today posted a 23.1 per cent increase in net profit to Rs 2,326.52 crore in the January-March quarter of 2013-14.
HDFC BANK LTDMumbai: HDFC Bank today posted a 23.1 per cent increase in net profit to Rs 2,326.52 crore in the January-March quarter of 2013-14.

The country’s second-largest private lender had a profit of Rs 1,889.84 crore in the corresponding quarter last year.

Total income rose 14.9 per cent to Rs 12,790 crore from Rs 11,127.5 crore a year earlier.

Net interest income (interest earned less interest expended) for the quarter grew 15.3 per cent to Rs 4,952.6 crore, driven by average asset growth of 20.3 per cent, the bank said in a statement.

The board recommended a dividend of Rs 6.85 per equity share of Rs 2 for the year ended March 31 as against Rs 5.5 per share for the previous year.

For the financial year 2013-14, the bank posted a net profit of Rs 8,478.4 crore, an increase of 26 per cent from Rs 6,726.28 crore in the previous year.

The bank’s income was Rs 49,055.18 crore in FY14 compared with Rs 41,917.49 crore in the previous financial year.

Consolidated net profit of the bank increased 27.3 per cent to Rs 8,743.5 crore for the year ended March 31.

The net interest margin in FY14 was 4.4 per cent as against 4.5 per cent for the year ended March 31, 2013.

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