Private sector lender HDFC Bank on Monday reported a 33.2 per cent jump in net profit to Rs 1,114.70 crore for the fourth quarter ended March, 2011, driven by increase in loans.
The bank's total income rose by 24 per cent to Rs 6,724.3 crore in the January-March quarter of 2010-11 from Rs 5,003.8 crore in the year-ago period, HDFC Bank said in a filing to the Bombay Stock Exchange (BSE).
Net interest income (interest earned less interest expended) during the quarter was Rs 2,839.5 crore as against Rs 2,351.4 crore in the same period a year ago.
This was driven by loan growth of 27.1 per cent and a core net interest margin (NIM) for the quarter of 4.2 per cent, the bank said.
The board of HDFC Bank has proposed a dividend of 165 per cent or Rs 16.50 per share for the year ended March 31, 2011.
Besides, the board has also recommended share split in 1:5 ratio. The board has approved sub-division of one equity share of face value Rs 10 into five shares of Rs 2 each and consequential alteration in the authorised share capital.
For the financial year 2010-11, the bank posted a net profit of Rs 3,926.30 crore, representing an increase of 33.10 per cent from Rs 2,948.6 crore in the previous year.
The bank earned an income of Rs 24,263.4 crore in FY11 compared to Rs 20,155.83 crore in the previous fiscal.
Consolidated net profit increased by 32.9 per cent to Rs 3,992.5 crore in 2010-2011.
The bank's total balance sheet size increased by 24.7 per cent from Rs 2,22,459 crore as of March 31, 2010 to Rs 2,77,353 crore as of March 31, 2011. Recording a growth of 27.1 per cent total gross advances was at Rs 1,59,983 crore while total deposits grew by 24.1 per cent at Rs 2,08,586 crore.
The Capital Adequacy Ratio (CAR) of the bank stood at 16.2 per cent at the end of 2010-2011 as against 17.4 per cent as of March 31, 2010.