India's largest private sector lender HDFC Bank saw its January-March quarter profit rise 20% year-on-year, on higher core income, lower provisions.
Net profit for the fourth quarter stood at Rs 12,047 crore, compared with Rs 10,055 crore a year ago.
Analysts polled by Bloomberg estimated a net profit of Rs 12,137 crore for the quarter.
Net interest income, or core income, rose 24% from last year
and stood at Rs 23,352 crore. Other income too rose 14.3% year-on-year to Rs 8,731 crore.
Asset quality for the quarter improved with gross non-performing asset ratio at 1.12%, down 11 basis points quarter-on-quarter.
Net NPA ratio too improved 6 basis points sequentially to 0.27%.
Total provisions for the quarter fell 19% year-on-year and stood at Rs 2,685 crore in the March quarter.
*Final Dividend of INR 19/per share*
