Srinagar, Oct 19:  The HDFC Bank has booked a net profit of Rs 912.1 crores for the quarter ended September 30, 2010 marking a 32.7 per cent growth over the corresponding quarter a year ago.
 Profit before tax for the quarter ended September 30, 2010 increased by 35.4 per cent over the corresponding quarter a year ago, to Rs 1,352.6 crores. After providing Rs 440.5 crores for taxation, the Bank earned a net profit of Rs 912.1 crores.
 Pertinently, the bank clocked a net profit of Rs 1739 crore for six months (two quarters) of the current financial year ended September 30, 2010 representing a 33 per cent growth over the corresponding period a year ago.
 The Board of Directors of HDFC Bank Limited, to mention, approved the Bank’s (Indian GAAP) accounts for the quarter and half year ended September 30, 2010 at its meeting held in Mumbai on Tuesday.
 The results for the half year ended September 30, 2010, have been subject to an "Audit" and results for the quarter ended September 30, 2010, have been subject to a "Limited Review" by the Statutory Auditors of the Bank, a senior official of the HDFC Bank official told Greater Kashmir.
 Giving details he said the bank showed an income of Rs 5,770.7 crore for the quarter ended September 30 as against Rs 5,045.4 crores for the quarter ended September 30, 2009.
 The bank’s net revenues, according to the official, were Rs 3,487 crores for the quarter ended September 30, 2010 marking an increase of 15.9 per cent over Rs 3,009.3 crores for the corresponding quarter of the previous year.
 Giving details he said the interest earned (net of loan origination costs and amortization of premia on investments held in the Held to Maturity (HTM) category) increased from Rs 3,991.9 crores in the quarter ended September 30, 2009 to Rs 4,810.0 crores in the quarter ended September 30, 2010.
 Net interest income (interest earned less interest expended) for the quarter ended September 30, 2010 grew by 29.2 per cent to Rs 2,526.3 crores, driven by average asset growth of 30.0 per cent and a stable net interest margin (NIM) of 4.2 per cent which was also the NIM for the quarter ended
 September 30, 2009.
 On account of the improvement in asset quality, reflected in the ratio of gross non-performing assets to gross advances reducing from 1.8 per cent as of September 30,
 2009 to 1.2 per cent as of September 30, 2010, provisions and contingences reduced from Rs 594.1 crores for the quarter ended September 30, 2009 to Rs 454.5 crores (including loan loss provisions of  Rs 445 crores) for the quarter ended September 30, 2010.
 The Bank’s total Capital Adequacy Ratio (CAR) as at September 30, 2010 remained strong at 17 per cent as against 15.7 per cent for the correspondent period a year ago. The regulatory minimum ratio is 9 per cent.

Lastupdate on : Tue, 19 Oct 2010 21:30:00 Makkah time
Lastupdate on : Tue, 19 Oct 2010 18:30:00 GMT
Lastupdate on : Wed, 20 Oct 2010 00:00:00 IST