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Apr 25, 2016, 08.22 AM | Source: Moneycontrol.com

HDFC Bank Q4 net rises 20% at Rs 3374 cr, NII jumps 24%

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.

Moneycontrol Bureau

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.




In Q4 its gross non-performing assets were up 3.2 percent at Rs 4393 crore against Rs 4255.2 crore (QoQ) while net NPA climbed 4.7 percent t Rs 1320.4 crore against Rs 1260.6 crore on sequential basis. In absolute terms, gross NPA was at 0.94 percent versus 0.97 percent and net NPA was at 0.28 percent versus 0.29 percent (QoQ).

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.

Other income (non-interest revenue) at Rs 2865.9 crore was 27.8 percent of the net revenues for the quarter ended March 31, 2016 and grew by 11.8 percent over Rs 2563.8 crore year-on-year. Provisions and contingencies for Q4 were Rs 662.5 crore as against Rs 576.7 crore (YoY). 

The financial lender saw its retail book grow by around 30 percent sequentially. Its corporate book grew by 25 percent percent. Gross bad loans as a percentage of total loans fell to 0.94 percent from 0.97 percent in the previous three months.Domestic loan mix between retail:wholesale was 51:49.

For the full year ending March 2016, the bank’s net profit was at Rs 12,296.2 crore, up 20.4 percent while net revenues (net interest income plus other income) grew 22.1 percent at Rs 38,343.2 crore.

HDFC Bank has announced dividend Of Rs 9.50 per share. It's restructured loans stood at 0.1 percent of gross advances.

Posted by Nasrin Sultana Follow @ NasrinzStory
Data charts by Ritesh Presswala 

READ MORE ON  HDFC Bank, Q4, NII, NPA, loan book, Casa
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