HDFC Bank’s fourth quarter net profit increased 16% at Rs 8,434

New Delhi: Saturday HDFC Bank reported a 15.8% increase in consolidated net income for the quarter ended March 2021 at Rs 8,434.
Private sector lenders recorded a net profit of Rs 7,280 a year ago in the corresponding quarter.
“Consolidated down payments increased by 13.6% from Rs 10,43,671 as of March 31, 2020 to Rs 11,85,284 as of March 31, 2021,” HDFC Bank said in a filing with regulators.
Consolidated net income for the year ended March 2021 was 31,833 chlores, an increase of 16.8% from the previous year.
Gross revenue (consolidated) for the January-March quarter of 2020-21 increased from Rs 38,287.17 in the same period last year to Rs 40,909.49.
Full-year revenue (consolidated) for 2020-21 increased from 1,47,068.28 rupees in the previous year to 1,55,885.28 rupees.
In terms of assets, the total amount of non-performing assets of banks as of March 31, 2021 was 1.32% of the total amount of advance payments, a slight increase from 1.26% in the same period of the previous year. In absolute terms, the total advance was worth Rs 15,086 at the end of 2009, down from Rs 12,649.97.
The net NPA was 0.40 percent (4,554.82 rupees) compared to 0.36 percent (3,542.36 rupees).
Reserves for non-performing loans and contingencies were raised to Rs 4,693.70 in the reported quarter.
“Banks also continue to hold reserves for the potential impact of Covid-19 on March 31, 2021, based on currently available information, the same beyond the RBI’s regulatory standards. “There are,” said HDFC Bank.
As of March 31, 2021, the bank had a variable allowance of Rs 1,451 and a conditional allowance of Rs 5,861. Total provisions (including specific, variable, contingent and general provisions) were 153% of total non-performing loans as of the end of March. In 2021, it said.

HDFC Bank’s fourth quarter net profit increased 16% at Rs 8,434

Source link HDFC Bank’s fourth quarter net profit increased 16% at Rs 8,434

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