Mumbai: Lending major HDFC Bank on Saturday reported a 22.6% increase in its net profit for the January-March quarter on a year-on-year basis.
The bank’s net profit for the fourth quarter of financial year 2018-19 stood at Rs 5,885.1 crore, HDFC Bank said in a regulatory filing to the Bombay Stock Exchange. After providing Rs 3,069.3 crore for taxation, the Bank earned a net profit of Rs 5,885.1 crore, an increase of 22.6% over the quarter ended March 31, 2018,” the bank said in a statement.
“Net interest income (interest earned less interest expended) for the quarter ended March 31, 2019 grew by 22.8% to Rs 13,089.5 crore, from Rs 10,657.7 crore for the quarter ended March 31, 2018, driven by average asset growth of 19.8% and a core net interest margin for the quarter of 4.4%.” For the full fiscal 18-19, its net profit grew by 20.5% to Rs 21,078 cr.
