Sunday, 15 February 2015

HDFC Bank Q3 Net Profit Jumps 20 Per Cent At Rs 2,794.51 Crore

HDFC Bank, the private lender, on Saturday reported 20 per cent jump in net profit at Rs 2,794.51 crore for the third quarter ended December 2014 on account of higher interest income.The bank had reported a net profit of Rs 2,325.70 crore during the same period of last financial year, HDFC Bank said in a filing to stock exchanges.Total income of the bank rose to Rs 14,930.74 crore during the October-December period of FY15 from Rs 12,738.95 crore in the corresponding quarter of last financial year.Net non performing assets (NPAs) stood at 0.26 per cent as compared to 0.3 per cent a year ago, while gross NPAs were at 0.99 per cent as against 1.01 per cent a year ago.Earlier this week, promoters of HDFC Bank had diluted 0.7 per cent stake while raising about Rs 10,000 crore by selling American Depository Receipts (ADRs) and India-listed shares to qualified institutional investors in the largest follow-on offer by a private sector firm.The bank also made a fresh issuance of 8.6 crore shares.As a result, total number of paid-up shares stood at 250.35 crore at the end of February 10.HDFC Bank's promoters are Housing Development Finance Corporation, HDFC Investments and HDFC Holdings.

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