HDFC Bank Q4 beats forecast, profit up 30 per cent

HDFC Bank, India's second-largest private lender, on Wednesday reported a 30.4 per cent increase in its net profit at Rs 1,453.1 crore for the fourth quarter ended March 31, 2012, led by higher interest rate margins and stable asset quality.

The bank had reported a net profit of Rs 1,429.6 crore in the corresponding quarter of 2010-11.

The lender's total income increased 32.1 per cent at Rs 8,880 crore in the quarter under review from Rs 6,724.3 crore in the corresponding quarter of 2010-11.

The net interest income of the bank grew by 19.3 per cent in the quarter ended March 31, 2012, at Rs 3,388.3 crore from Rs 2,839.5 crore in the corresponding quarter of 2010-11.

"This (growth) was driven by loan growth of 22.2 per cent and core net interst margin for the quarter of 4.2 per cent," the lender said in a regulatory filing to the Bombay Stock Exchange (BSE).

According to the filing, the lender's other income for the quarter under review grew by 18.8 per cent at Rs 1,492 crore over the corresponding quarter of 2010-11.

Its gross non-performing assets (NPAs) declined to 1.02 per cent year-on-year from 1.03 per cent. The gross NPAs slipped to Rs 1,999.39 crore from Rs 2,020.58 crore in the like period of 2010-11.

For 2011-12, the lender reported a consolidated net profit growth of 31.4 per cent at Rs 5,247 crore. Its standalone net profit grew by 31.6 per cent at Rs 5,167.1 crore in 2011-12.

The lender's net revenues for 2011-12 went up by 19.2 per cent at Rs 17,540.5 crore from Rs 14,878.3 crore in 2010-11.

It also announced a dividend of Rs 4.30 per equity share of Rs 2 for the year ended March 31, 2012, from Rs 3.30 per equity share of Rs 2 for the previous year.

Shares of the bank were trading 1.25 per cent higher on the Bombay Stock Exchange at 1.44 pm.

With inputs from IANS