During the quarter, its NII or difference between interest earned and interest expended grew 24 percent at Rs 7453.3 crore from Rs 6013.2 crore in year-ago period.
HDFC Bank has reported good January-March quarter results with net interest income (NII) growth surprise on higher side. The private lender's net profit rose 20.2 percent at Rs 3374.2 crore in fourth quarter of FY16 compared to Rs 2806.9 crore in corresponding quarter last fiscal.
During the quarter, its NII or difference between interest earned and interest expended grew 24 percent at Rs 7453.3 crore from Rs 6013.2 crore in year-ago period, led by strong credit growth and stable margins of 4.3 percent.
According to a CNBC-TV18 poll, HDFC Bank was expected to show a 20.6 percent growth in January-March quarter profit at Rs 3385.4 crore and NII was seen increasing 19.3 percent to Rs 7,173.3 crore on annual basis.
During the quarter, capital adequacy ratio was at 15.5 percent against 15.9 percent (QoQ) while cost-to-income ratio came in at 44.4 percent versus 44.9 percent (YoY). CASA ratio improved to 43.3 percent, up 3.3 percent QoQ.
HDFC Bank has announced dividend Of Rs 9.50 per share. It's restructured loans stood at 0.1 percent of gross advances.
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