HDFC Bank Limited FINANCIAL RESULTS
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Published on : 30 Jan, 18 13:01
The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter ended December 31, 2017, at their meeting held in Mumbai on Friday, January 19, 2018. The accounts have been subjected to a ‘Limited Review’ by the statutory auditors of the Bank.
Profit & Loss Account: Quarter ended December 31, 2017
The Bank’s total income for the quarter ended December 31, 2017 was ` 24,450.4 crore, up from ` 20,748.3 crore for the quarter ended December 31, 2016. Net revenues (net interest income plus other income) increased by 23.9% to ` 14,183.5 crore for the quarter ended December 31, 2017 from ` 11,451.8 crore in the corresponding quarter of the previous year. Net interest income (interest earned less interest expended) for the quarter ended December 31, 2017 grew by 24.1% to ` 10,314.3 crore, from ` 8,309.1 crore for the quarter ended December 31, 2016, driven by average asset growth of 16.6% and a core net interest margin for the quarter of 4.3%.
Other income (non-interest revenue) at ` 3,869.2 crore was 27.3% of the net revenues for the quarter ended December 31, 2017 and grew by 23.1% over ` 3,142.7 crore in the corresponding quarter ended December 31, 2016. The four components of other income for the quarter ended December 31, 2017 were fees & commissions of ` 2,872.1 crore (` 2,206.8 crore in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of ` 426.2 crore (` 297.2 crore for the corresponding quarter of the previous year), gain on revaluation / sale of investments of ` 259.4 crore (` 398.6 crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries, of ` 311.4 crore (` 240.0 crore for the corresponding quarter of the previous year).
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Profit & Loss Account: Quarter ended December 31, 2017
The Bank’s total income for the quarter ended December 31, 2017 was ` 24,450.4 crore, up from ` 20,748.3 crore for the quarter ended December 31, 2016. Net revenues (net interest income plus other income) increased by 23.9% to ` 14,183.5 crore for the quarter ended December 31, 2017 from ` 11,451.8 crore in the corresponding quarter of the previous year. Net interest income (interest earned less interest expended) for the quarter ended December 31, 2017 grew by 24.1% to ` 10,314.3 crore, from ` 8,309.1 crore for the quarter ended December 31, 2016, driven by average asset growth of 16.6% and a core net interest margin for the quarter of 4.3%.
Other income (non-interest revenue) at ` 3,869.2 crore was 27.3% of the net revenues for the quarter ended December 31, 2017 and grew by 23.1% over ` 3,142.7 crore in the corresponding quarter ended December 31, 2016. The four components of other income for the quarter ended December 31, 2017 were fees & commissions of ` 2,872.1 crore (` 2,206.8 crore in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of ` 426.2 crore (` 297.2 crore for the corresponding quarter of the previous year), gain on revaluation / sale of investments of ` 259.4 crore (` 398.6 crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries, of ` 311.4 crore (` 240.0 crore for the corresponding quarter of the previous year).
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