Panaji
Driving on a 28% year-on-year (YoY) growth in assets, HDFC Bank posted 20% growth in net profit in quarter ending December 31, 2015. The bank reported a net profit amounting to Rs 3,357 crores.
Net interest income, which is a difference between interest earned and interest paid, grew by 24% in December 2015 quarter as it touched Rs 7,069 crores. Other income, which is non-fund based revenue, grew by 13% in the same period.
The four components of other income for the quarter ended December 2015 were fees & commissions of Rs 2,005 crores, foreign exchange & derivatives revenue of Rs 277 crores, gain on revaluation / sale of investments of Rs 328 crores and miscellaneous income including recoveries of Rs 262 crores.
Operating expenses grew in line with growth in revenues. The quarter saw operating expenses soar by 22%. Provisions and contingencies for the quarter ended December 2015 amounted to Rs 654 crores as against Rs 560 crores for corresponding period last year.
