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HDFC Bank net profit rises 32.7 percent

Mumbai, Oct 20 (Calcutta Tube) India’s second largest private lender HDFC Bank Tuesday reported a 32.7 percent rise in net profits at Rs.912.1 crore for the quarter ended Sep 30.

Net revenues of the bank grew 15.9 percent to Rs.3,487 crore in the quarter under review, compared to Rs.3,009.3 crore in the previous corresponding quarter.

The scrip ended trade 1.36 percent lower at Rs.2,365.60 at the Bombay Stock Exchange.

For the half year ended Sep 30, the bank’s net profit grew 33.3 percent to Rs.1,723.9 crore, while the net revenues stood at Rs.6,878.5 crore, compared to Rs.5,944.4 crore in the year-ago period.

Gross non-performing assets came down to 1.2 percent of gross advances as against 1.8 percent recorded on Sep 30, 2009.

Current and savings account (CASA) deposits went up 31.1 percent in the quarter under review. CASA deposits were 50.6 percent of the total deposits as on Sep 30.

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