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

The personal sector lender had registered a web revenue of ₹7,280 crore within the corresponding quarter a yr in the past.

HDFC Financial institution on Saturday reported a 15.eight% rise in its consolidated web revenue at ₹eight,434 crore for the quarter ended March 2021. The personal sector lender had registered a web revenue of ₹7,280 crore within the corresponding quarter a yr in the past. “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 Financial institution mentioned in a regulatory submitting. The consolidated web revenue for the yr ended March 2021 was ₹31,833 crore, up 16.eight% over the earlier fiscal yr. Whole earnings (consolidated) elevated to ₹40,909.49 crore for the January-March quarter of FY 2020-21 from ₹38,287.17 crore within the year-ago interval. The total-year earnings (consolidated) in 2020-21 rose to ₹1,55,885.28 crore from ₹1,47,068.28 crore within the previous yr. On the asset entrance, the financial institution’s gross non-performing belongings as of March 31, 2021 stood at 1.32% of the gross advances, barely up from 1.26% within the year-ago interval. In absolute worth, the gross advances have been price ₹15,086 crore on the finish of FY21, down from ₹12,649.97 crore. Internet NPAs have been zero.four% (₹four,554.82 crore) as towards zero.36% (₹three,542.36).Provisions for dangerous loans and contingencies have been raised to Rs four,693.70 crore for the reported quarter from Rs three,784.49 crore parked apart within the year-ago interval. “The financial institution additionally continues to carry provisions as on March 31, 2021 towards the potential impression of Covid-19 based mostly on the data accessible at this cut-off date and the identical are in extra of the RBI prescribed norms,” HDFC Financial institution mentioned. The financial institution held floating provisions of Rs 1,451 crore and contingent provisions of Rs 5,861 as on March 31, 2021. Whole provisions (comprising particular, floating, contingent and normal provisions) have been 153 per cent of the gross non-performing loans as of finish March 2021, it mentioned. PTI KPM MKJ

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