The Hindu Business Line : HDFC Bank Q2 net up 31 pc on retail surge

HDFC Bank has posted 31.09 per cent growth in net profit at Rs 199.64 crore for the second quarter ended September, against Rs 152.29 crore in the corresponding previous period, aided by high growth in retail loans and increase in net interest margin.

Total income increased to Rs 1,283.05 crore (Rs 867.42 crore). Net interest income increased by 43 per cent to touch Rs 612.13 crore (Rs 425.57 crore), while other income was at Rs 260.15 crore (Rs 122.72 crore). The net interest margin increased to four per cent (3.8 per cent). Total expenditure rose to Rs 812.41 crore (Rs 566.38 crore).

Retail loans grew 73.8 per cent to Rs 17,453 crore and now form 52.1 per cent of gross advances against 46.7 per cent last year. The bank has seen an increase in retail advances like two-wheeler loans, personal loans, credit cards, etc., said a bank release.

Total deposits increased to Rs 45,446 crore, an increase of 35.8 per cent.

Savings account deposits saw a growth of 46.8 per cent to Rs 14,395 crore. Current account deposits were at Rs 12,727 crore (Rs 7,642 crore).

The capital adequacy ratio fell to 10.4 per cent from 10.9 per cent. For the half year ended September, the bank's net profit increased to Rs 383.17 crore (Rs 292.26 crore).

Total income was at Rs 2,440.73 crore (Rs 1,678.01 crore). Other income was at Rs 523.7 crore (Rs 230.76 crore).

Net NPAs as a proportion of total customer assets were at 0.3 per cent.

The bank's scrip ended at Rs 656.25 on the BSE on Monday, 0.3 per cent down from the earlier close of Rs 658.25.

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