HDFC Bank, India’s second largest private lender, said Monday its net profit rose 33.23 percent to Rs.1,114.71 crore in the fourth quarter of 2010-11, led by increased earnings from loans.
The total income of the bank rose 34.38 percent to Rs.6,724.31 crore in the quarter ended March 31, as against Rs.5,003.87 crore during the corresponding quarter of last year.
The private lender’s net interest income (NII) went up 27.1 percent to Rs.2,839.5 crore during the quarter under review from Rs.2,351.4 crore in the like period of last year, HDFC Bank said in a regulatory filing to the Bombay Stock Exchange (BSE).
The bank’s board Monday recommended share split in 1:5 ratio. The board has approved sub-division of one equity share of face value Rs 10 into five shares of Rs 2 each and consequential alteration in the authorised share capital, the statement said.
For the fiscal year, the bank reported an increase of 33.15 percent in its net profit for the complete 2010-11, which stood at Rs.3,926.39 crore as compared to Rs.2,948.69 crore.
The total income of the company in 2010-11 increased by 20.37 percent to Rs.24,263.4 crore, compared to Rs.20,155.83 crore in the previous year.
The total deposits with the private lender grew by 24.6 percent and stood at Rs.208,586 crore from the year-ago figure.
Savings accounts deposits increased by 27.2 percent at Rs.63,448 crore, while current account deposits rose by 24.8 percent at Rs.46,460 crore over the same period last year.
The bank’s gross non-performing assets declined to 1.05 percent in in 2010-11 from 1.43 percent a year ago.
The company’s scrip at the Bombay Stock Exchange (BSE) fell 1.89 percent to close at Rs.2,315.70. The result was announced after the market closed.
