Private sector lender IndusInd Bank has reported 25 per cent growth in net profit for the quarter ended March 31 at Rs 620.35 crore, driven by both core and non-core business.
Advertisement
HDFC Bank announced a dividend of Rs 9.20 per equity share for the financial year ended March 31, 2016. “On the corporate side, we are seeing some demand for long-term loans from companies but working capital and medium term loans are the mainstay of the corporate book”. Net NPA came in at Rs 1320.37 crore from Rs 896.28 crore for the year ending March 2015, an increase of 47.3 per cent.
This story has not been edited by Firstpost staff and is generated by auto-feed. Both segments of the Bank’s loan portfolio grew faster than system loan growth. On the retail front, he said that the lender would continue to focus on the consumption demand-led credit needs, adding that the commercial vehicle book was performing well for over two quarters now.
Other income (non-interest revenues) during the quarter was 27.8% of the net revenues for the quarter ended March 31, 2016, and grew by 11.8% over Rs 2,563.8 crore in the corresponding quarter ended March 31, 2015.
On the day of result the stock closed on a flat note at Rs 1092.30, an increase of 0.11 per cent. Out of the total income, the Interest Earned came in at Rs 15996.75 crore in this quarter as compared to Rs 15411.12 crore for Q3FY16, an increase of 4 per cent.
Net bad loans as a percentage of total loans was at 0.28% for the March ended quarter compared to 0.28% in the previous quarter and 0.25% in the year-ago quarter. The net interest margin of the bank was stable at 4.3%.
Mumbai: HDFC Bank Ltd, India’s most valuable lender, said its fourth-quarter profit rose 20.2%, in line with analysts’ estimates, the bank said on Friday.
Advertisement
The bank said it would maintain its NIM at 4-4.4 per cent and did not see any impact of the marginal cost of funds-based lending rate on its spreads.
