India's leading private sector lender HDFC Bank on Saturday posted 20.27 per cent year-on-year growth in net profit at Rs 4,799.28 crore – its highest ever quarterly profit for January-March quarter — driven by stable asset quality.
The bank had posted a net profit of Rs 3990.09 crore for the corresponding quarter last year.
Net interest income (NII) increased 17.70 per cent YoY to Rs 10,657.71 crore during the quarter from Rs 9055.10 crore a year earlier.
Asset quality remained stable, as the percentage of gross non-performing assets (NPA) came in at 1.30 per cent against 1.29 per cent on a sequential basis.
Percentage of net NPAs as of March-end stood at 0.40 per cent compared with 0.44 per cent at December-end.
Provisions and contingencies increased 22.13 per cent to Rs 1541.10 crore during the quarter under review. The figure stood at Rs 1261.80 in the same quarter last year.
The bank also informed bourses that the board has recommended a dividend of Rs 13 per equity share for the year ended March 31, 2018.
Shares of HDFC Bank settled 0.98 per cent up at Rs 1,960.95 on Friday.