HDFC Bank announced on Saturday that its independent net profit increased 22.8 percent to Rs 10,055.2 crore for the fiscal quarter ended March 31, 2022. In the previous fiscal year, HDFC Bank had a net profit of Rs 8,186.5 crore. In the meanwhile, the net profit for the fiscal year ending March 31, 2022, was Rs 36,961.3 crore. It was up 18.8 percent for the fiscal year that ended March 31, 2021.
In the January-March quarter, the bank’s Net Interest Income (NII) increased 10.2 percent to Rs 18,872.7 crore. In the quarter ended March 31, 2021, the equivalent remained at Rs 17,120.2 crore.
The bank’s net income, which includes net revenue pay as well as other compensation, increased by 7.3 percent to Rs 26,509.8 crore for the January-March quarter from Rs 24,714.1 crore for the March 31, 2021 period.
Propellers increased by 20.8 percent, with the growth extending to objects and pieces. The center net revenue edge was 4.0 percent on absolute resources and 4.2 percent when revenue acquiring resources were included.
As of March 31, 2022, net non-performing assets (NPAs) were 1.17 percent of net advances, compared to 1.26 percent as of December 31, 2021 and 1.32 percent as of March 31, 2021. As of the end of the January-March quarter, net nonperforming resources accounted for 0.32 percent of net advances.
“During the quarter, we added 2.4 million new obligation connections at a breakneck pace. The liquidity inclusion percentage was adequate at 112 percent, much over the administrative inequivalence “”Necessity,” HDFC Bank said in an authority articulation.
Over the quarter, the bank added 563 branches and 7,167 employees, and during the year, it added 734 branches and 21,486 representatives. “This, together with other assumptions made during the year, will position the bank to capitalize on the learning experience,” it said.
Working costs for the quarter ended March 31, 2022 were Rs 10,152.8 crore, a 10.6 percent increase over the previous year’s quarter of Rs 9,181.3 crore. For the quarter, the expenditure for money proportion was 38.3 percent.
HDFC Bank’s absolute monetary record size as of March 31, 2022 was Rs 2,068,535 crore, an 18.4 percent increase from Rs1,746,871 crore as of March 31, 2021. CASA stores increased by 22.0 percent, with investment account stores increasing by Rs 511,739 crore and current record stores increasing by Rs 239,311 crore.
Also go through HDFC Bank reported its Q3 earnings!
