SME Times is powered by   
Search News
Just in:   • OPEC to extend output cuts, to set up OPEC-India Working Group  • Honda Cars expects higher growth than automotive sector this fiscal  • ITC net profit up 12.1 percent in Q4  • Tata Chemicals posts 32 pc rise in Q4 net profit  • Centre modifies rules to end cattle slaughter 
Last updated: 22 Apr, 2017  

HDFC.9.Thmb.jpg HDFC Bank's Q4 net profit up 18 pc

HDFC Bank
   Top Stories
» Entities to declare over Rs 2 lakh cash receipts by May 31: I-T
» India, Mauritius negotiating CECPA trade deal
» Climate, trade, security, migration to figure in tough G7 summit
» Sensex mounts 31k, Nifty scales 9,600 points peak
» Startups get a boost as govt enlarges definition
SME Times News Bureau | 22 Apr, 2017
HDFC Bank on Friday reported a rise of 18.25 per cent in its standalone net profit for the fourth quarter (Q4) of 2016-17.

The company's net profit rose to Rs 3,990.09 crore from Rs 3,374.22 crore reported in the fourth quarter of 2015-16.

The total income of the bank rose 14.30 per cent to Rs 21,560.66 crore during in January-March 2017 from Rs 18,862.61 in the corresponding period last year.

The private lender's net revenue (net interest income (NII) plus other income) during the fourth quarter stood at Rs 12,501.4 crore, up by 21.1 per cent from Rs 10,319.2 crore.

"Net interest income (interest earned less interest expended) for the quarter ended March 31, 2017 grew by 21.5 per cent to Rs 9,055.1 crore from Rs 7,453.3 crore for the quarter ended March 31, 2016 driven by average assets growth of 19 per cent and a core net interest margin for the quarter of 4.3 per cent," the company said in a statement.

"Other income (non-interest revenue) at Rs 3,446.3 crore was 27.6 per cent of the net revenues for the quarter ended March 31, 2017 and grew by 20.3 per cent over Rs 2,865.9 crore in the corresponding quarter ended March 31, 2016."

The commercial lender's provisions and contingencies for the quarter ended March 31, 2017 were Rs 1,261.8 crore as against Rs 662.5 crore for the corresponding quarter ended March 31, 2016.

"The specific loan loss provisions for the quarter ended March 31, 2017 include provisions on accounts that would have turned non-performing (NPA) during the quarter ended December 31, 2016, but were classified as NPA during the quarter ended March 31, 2017, in line with the additional 60/90 day dispensation provided by the Reserve Bank of India...," the statement said.

Besides, the company reported an increase of 18.3 per cent in its standalone net profit for the entire financial year 2016-17 to Rs 14,549.7 crore.

In addition, the bank's net revenues for the financial year under review increased by 18.5 per cent to Rs 45,435.7 crore from Rs 38,343.2 crore earned during 2015-16.

"For the year ended March 31, 2017, the net interest margin was 4.3 per cent. Core cost to income ratio was at 44.5 per cent for the year ended March 31, 2017, as against 45.1 per cent for the previous year," the statement said.

The company pointed out that its Board of Directors has recommended a dividend of Rs 11 per share of Rs 2 each for the year ended March 31, 2017, which is subject to shareholders' approval.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
65.30
63.60
UK Pound
85.05
82.20
Euro
73.10
70.60
Japanese Yen 59.05 57.05
As on 28 May, 2017
  Daily Poll
Should Govt tax farm income above certain level?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(109)
» Three years of Modi government(22)
» GST will go a long way in helping SMEs, says GST Council official(4)
» Govt. approves subsidy for 2,221 cold storages(2)
» Where should I export - the answer is here!(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter