HDFC Bank posts 16% rise in Q4 net profit at ₹8,434 crore

HDFC Bank on Saturday reported a 15.8% rise in its consolidated net profit at ₹8,434 crore for the quarter ended March 2021.

The private sector lender had registered a net profit of ₹7,280 crore in the corresponding quarter a year ago.

"Consolidated advances grew by 13.6% from ₹10,43,671 crore as on March 31, 2020 to ₹11,85,284 crore as on March 31, 2021," HDFC Bank said in a regulatory filing.

The consolidated net profit for the year ended March 2021 was ₹31,833 crore, up 16.8% over the previous fiscal year.

Total income (consolidated) increased to ₹40,909.49 crore for the January-March quarter of FY 2020-21 from ₹38,287.17 crore in the year-ago period.

The full-year income (consolidated) in 2020-21 rose to ₹1,55,885.28 crore from ₹1,47,068.28 crore in the preceding year.

On the asset front, the bank's gross non-performing assets as of March 31, 2021 stood at 1.32% of the gross advances, slightly up from 1.26% in the year-ago period. In absolute value, the gross advances were worth ₹15,086 crore at the end of FY21, down from ₹12,649.97 crore.

Net NPAs were 0.4% (₹4,554.82 crore) as against 0.36% (₹3,542.36).

Provisions for bad loans and contingencies were raised to Rs 4,693.70 crore for the reported quarter from Rs 3,784.49 crore parked aside in the year-ago period.

"The bank also continues to hold provisions as on March 31, 2021 against the potential impact of Covid-19 based on the information available at this point in time and the same are in excess of the RBI prescribed norms," HDFC Bank said.

The bank held floating provisions of Rs 1,451 crore and contingent provisions of Rs 5,861 as on March 31, 2021. Total provisions (comprising specific, floating, contingent and general provisions) were 153 per cent of the gross non-performing loans as of end March 2021, it said. PTI KPM MKJ

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Printable version | May 18, 2021 4:38:01 PM |

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