HDFC Bank Q4 Results: Profit Exceeds Estimates On Fall In Provisions, Rise In NII

A fall in other income and some rise in expenses led HDFC Bank to report a fall in operating profit by over 9% on the year to Rs 26,537 crore for the quarter ended March. During Jan-Mar, the bank's other income fell by 34% on the year to Rs 12,027 crore and expenses rose by over 4% to Rs 60,364 crore. However, lower provisions and an improvement in asset quality helped the private sector bank to report nearly a 7% year-on-year rise in net profit at Rs 17,616 crore.

The bank's bottom line also surpassed analysts' expectations of Rs 16,908 crore polled by Bloomberg. Provisions and contingencies at the bank plunged 76% year over year to Rs 3,193.05 crore.



Net interest income of the bank rose 10% on the year to Rs 32,066 crore. The private sector bank's asset quality improved, with the gross non-performing assets ratio at 1.33% as of March 31, compared to 1.

42% in the previous quarter. The net NPA ratio fell to 0.43% from 0.

46% in the prior quarter..