Biznextindia : Private sector lender HDFC Bank on Saturday reported 22.8 percent (year on year ) rise in net profit at Rs.10,055.20 crore. The bank had reported a net profit of Rs. 8187 crore in the corresponding quarter of FY21.
Its net interest income (NII), interest earned minus interest expended, for the March 2022 quarter grew 10.2 per cent to Rs 18,872.7 crore, compared with Rs 17,120.2 crore a year ago.
The lender’s other income (non-interest revenue) stood at Rs 7,637.1 crore, which was 28.8 per cent of total net revenues for the quarter, compared with Rs 7,593.9 in the March 2021 quarter.
The four components of other income for the quarter ended March 31, 2022, were fees and commissions of Rs 5,630.3 crore (Rs 5,023.3 crore in the corresponding quarter of the previous year), foreign exchange and derivatices revenue of Rs 892.5 crore (Rs 879.3 crore in the corresponding quarter of the previous year), loss on sale/ revaluation of investmentts of Rs 40.3 crore (gain of Rs 655.1 crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and divident, of Rs 1,154.7 crore (Rs 1,036.2 crore in the corresponding quarter of the previous year),” HDFC Bank said in a statement.
The bank has added 563 branches and 6157 new employees during the quarter.