Published: Sun, April 22, 2018
Arts&Culture | By Antoinette Montgomery

HDFC Bank declares 13% dividend on Rs 17486 cr net profit

HDFC Bank declares 13% dividend on Rs 17486 cr net profit

However, the bank booked a loss of Rs 0.22 billion on revaluation or sale of investments against a gain of Rs 1.8 billion in the March quarter.

Private sector lender HDFC Bank's net profit rose 20.3 per cent to about Rs 48 billion for the quarter ended March 31, 2018, from Rs 40 billion in the year-ago quarter.

In addition, the companies Net Interest Income jumped on a Y-o-Y basis by 17.70 per cent to nearly 10,700 crore as compared to Rs 9055.10 a year ago.

HDFC Bank's total income during Q4 FY18 reached Rs 25,549.7 crore from the Rs 21,560.7 crore during the same period in the previous fiscal, the bank said in a regulatory filing.

The bank had provided Rs 5,927.49 crore towards provisions and contingencies last fiscal up from Rs 3,593.30 crore provided for the year ended March 31, 2017.

Gross non-performing assets (NPAs), as a percentage of total advances, were at 1.30% in the March quarter compared with 1.29% in the December quarter and 1.05% in the year-ago March quarter.

The Board of _Directors recommended a dividend of Rs 13 per equity share of Rs 2 for the year ended March 31, 2018, as against Rs 11 per equity share of Rs 2 for the previous year. Net revenues (net interest income plus other income) for the year ended March 31, 2018 were Rs. 55,315.2 crore, up by 21.7% over Rs. 45,435.7 crore for the year ended March 31, 2017.

HDFC Bank saw its operating expenses for the fourth quarter rise 15.9 per cent to Rs 6,050.6 crore from Rs 5,222 crore during the corresponding quarter of the previous year.

As of March 31, 2018, the Bank's distribution network was at 4,787 banking outlets and 12,635 ATMs across 2,691 cities / towns as against 4,715 banking outlets and 12,260 ATMs across 2,657 cities / towns as of March 31, 2017.

Percentage of net NPAs as of March-end stood at 0.40 per cent compared with 0.44 per cent at December-end.

The bank's board has also approved the issue of Perpetual Debt Instruments, Tier II Capital Bonds and Long Term Bonds up to a total amount of Rs 50,000 crore in the next twelve months through private placement mode.

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