HDFC Bank net profit rises by 18.2 pc

IANS
Saturday, 21 July 2018

HDFC Bank Ltd has posted a rise of 18.2 per cent net profit for the quarter ended June 30, 2018 at Rs 4,601.44 crore as compared with net profit of Rs 3, 893.84 crore for the quarter ended June 30,2017 . 

Mumbai: HDFC Bank Ltd has posted a rise of 18.2 per cent net profit for the quarter ended June 30, 2018 at Rs 4,601.44 crore as compared with net profit of Rs 3, 893.84 crore for the quarter ended June 30,2017. 

The Bank's total income for the quarter ended June 30, 2018 at Rs 26,367.0 crore grew by 18.8 pc from Rs 22,185.4 crore for the quarter ended June 30, 2017, a bank statement said. 

Net revenues (net interest income plus other income) increased to Rs 14,631.6 crore for the quarter ended June 30, 2018 from Rs 12,887.4 crore in the corresponding quarter of the previous year. 

Net interest income for the quarter ended June 30, 2018 grew by 15.40 pc to Rs 10,813.6 crore, from Rs 9,370.7 crore for the quarter ended June 30, 2017, driven by asset growth and a net interest margin for the quarter of 4.2 pc. 

Other income (non-interest revenue) for the quarter ended June 30, 2018 was Rs 3,818.1 crore. Fees and commission income at Rs 3,171.0 crore for the quarter ended June 30, 2018 constituted 83.10 pc of other income and grew by 23.0 pc over Rs 2,578.10 crore in the corresponding quarter ended June 30, 2017.
  
The other three components of other income for the quarter ended June 30, 2018 were foreign exchange & derivatives revenue of Rs 499.6 crore (Rs 296.8 crore for the corresponding quarter of the previous year), loss on revaluation / sale of investments of Rs 283.2 crore (gain of Rs 331.4 crore for the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend, of Rs 430.7 crore (Rs 310.3 crore for the corresponding quarter of the previous year).  

Operating expenses for the quarter ended June 30, 2018 were Rs 5,983.9 crore, an increase of 11.5 pc over Rs 5,367.5 crore during the corresponding quarter of the previous year.  

The core cost-to-income ratio for the quarter was at 40.10 pc as against 42.70 pc for the corresponding quarter ended June 30, 2017. 

Provisions and contingencies for the quarter ended June 30, 2018 were Rs 1,629.4 crore as against Rs 1,558.8 crore for the quarter ended June 30, 2017.  

Total deposits as of June 30, 2018 were Rs 805,785 crore, an increase of 20.0 pc over June 30, 2017. As of June 30, 2018 current account deposits were at Rs 109,297 crore and savings account deposits at Rs 226,656 crore grew by 17.4 pc over June 30, 2017. 

Time deposits were at rs 469,832 crore, an increase of 24.9 pc over the previous year, resulting in CASA deposits comprising 41.7 pc of total deposits as of June 30, 2018. 

Total advances as of June 30, 2018 were Rs 708,649 crore, an increase of 22.0 pc over June 30, 2017.  

The Bank's total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 14.6 pc as on June 30, 2018 (15.6 pcas on June 30, 2017) as against a regulatory requirement of 11.025 pc which includes Capital Conservation Buffer of 1.875 pc and an additional requirement of 0.15 pc on account of the Bank being identified as a Domestic Systemically Important Bank (D-SIB).

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