Private sector lender HDFC Bank’s net profit rose 20.3 per cent to about Rs 48 billion for the quarter ended March 31, 2018, from Rs 40 billion in the year-ago quarter.
In the year-ago quarter, the gross NPA ratio was 1.05 per cent. Gross NPAs amounting to Rs 3.7 billion were added in the March quarter, the bank said in a statement.
Lalitabh Shrivastawa, assistant vice-president, research, Sharekhan said, “HDFC bank results were largely in line with most parameters except for the slower corporate loan growth. At these times, stable assets and quality performance will be of more importance.”
In the year-ago quarter, the gross NPA ratio was 1.05 per cent. Gross NPAs amounting to Rs 3.7 billion were added in the March quarter, the bank said in a statement.
Provisions and contingencies were Rs 15.41 billion, as against Rs 12.61 billion in the year-ago March quarter. Deposits and credit grew at 22.5 per cent to Rs 7,887 billion and 18.7 per cent to Rs 6583 billion, respectively, over the last year’s quarter.
The share of retail loans in total book rose 4 per cent in around 12 months to 57 per cent at the end of March 2018 from 53 per cent a year ago.
The capital adequacy ratio (CAR) as of March 31, 2018, stood at 14.8 per cent from 14.6 a year ago. The bank has announced a dividend of Rs 13 per equity share of Rs 2 for 2017-18, as against Rs 11 per equity share in the previous year, subject to shareholders’ approval.