HDFC Bank reports third quarter net profit at Rs 3,865.33 crores, up 15.14 per cent

Retail Banking giant HDFC Bank on Tuesday reported a 15.14 per cent growth in net profit to Rs 3,865.33 crore for the third quarter of the current fiscal.

The private sector bank had posted a net profit of Rs 3,356.84 crore in the October-December quarter of last fiscal.

Total income rose to Rs 20,748.27 crore during the December quarter, up 13.48 per cent, from Rs 18,283.31 crore in the year-ago period.

Net interest income grew by 17.6 per cent to Rs 8,309.1 crore during the quarter driven by average asset growth of 18.6 per cent. HDFC Bank's net interest margin stood at 4.1 per cent for the quarter.

The net non-performing assets (NPAs) as a percentage of total loans rose marginally to 0.32 per cent at the end of December, from 0.29 per cent in same period last year.

HDFC Bank's provisioning for bad loans increased by 9.46 per cent to Rs 715.78 crore as against Rs 653.88 crore reported in the corresponding period a year ago.