Skip to main content

HDFC Bank Q4 net up by 37.1%,

Private sector lender HDFC Bank on Thursday posted a net profit of Rs 471.1 crore for the quarter ended March 31, 2008, up by 37.1 per cent from Rs 343.57 crore in the corresponding quarter last year.
The bank earned a total income of Rs 3,505.5 crore for the quarter as against Rs 2,321 crore in the corresponding quarter, an increase of 51.2 per cent, the bank said here in a release.
For FY'08, the net profit stood at Rs 1,590.2 crore as against Rs 1,141.45 crore, up by 39.3 per cent. Total income for the year stood at Rs 12,398.2 crore as against Rs 8,164.2 crore in the previous year.
The bank's board has recommended an enhanced dividend of 85 per cent for the year ended March 31, as against 70 per cent for the previous year, subject to approval by shareholders.
The net interest income for the fourth quarter increased by 55.7 per cent to Rs 1,642.1 crore, driven by average asset growth of 50.3 per cent and a core net interest margin of around 4.4 per cent. The other income of the bank too registered strong grow th of 39.3 per cent from Rs 394.4 crore to Rs 549.3 crore, comprising Rs 490.4 crore from fee and commissions alone.
Provisions and contingencies for the quarter almost doubled to Rs 465.1 crore as against Rs 267.1 crore in the corresponding quarter last year. The provisioning comprises Rs 293 crore for non-performing assets and general provisions for standard assets and Rs 172.7 crore for tax, legal and other contingencies.

Comments

Post a Comment

Popular posts from this blog

RBS picks up 0.60% stake in Gateway Distriparks

The Royal Bank of Scotland (RBS) has picked up 0.60% stake in logistic services provider -- Gateway Distriparks. The bank has bought 6.40 lakh shares in the company for a total consideration of Rs 8.32 crore. Gateway Distriparks, incorporated in 1994, is engaged in the business of warehousing, container freight stations, providing handling and clearance of sea borne export-import trade in containerized form.
Post a Comment
Read more

Day End Report

The Sensex opened with a huge downward gap of 250 points at 13,856, and soon touched a low of 13,731. Another rise in repo rate and Cash Reserve Ratio by the RBI sparked off heavy sell-off in opening trades. However, fresh buying at lower levels helped the index recover all its losses by mid noon trades. A fresh round of buying in late trades saw the index surge to a high of 14,249 - up 518 points from the days low. The Sensex finally settled with a gain of 113 points at 14,220. The NSE Nifty ended with a gain of 60 points at 4,251. The market breadth was marginally positive- out of 2707 stocks traded, 1,370 advanced, 1,264 declined and 73 were unchanged today. Reliance Communications (RCom) zoomed 7.2% at Rs 509. Tata Steel surged 4.5% at Rs 743. DLF and Reliance Infra gained 4.2% each at Rs 458 and Rs 945, respectively. TCS and Bharti Airtel advanced 4% each at Rs 877 and Rs 780, respectively. Ranbaxy was up 3.8% at Rs 545. BHEL gained 3.7% at Rs 1,442. Reliance advanced 3.4% to Rs 2...
Post a Comment
Read more

Auto industry records highest-ever sales in Jan

Riding on the back of economic growth, easy availability of finance and the continuing fiscal stimulus, the domestic auto industry has posted the highest ever monthly sales in January. The strong growth is both in terms of passenger car volumes and the total vehicle sales. According to Society of Automobile Manufacturers (SIAM) data, the passenger car segment has posted a 32 per cent growth in domestic sales at 145,905 units in January, over the same month last year. The last highest-ever monthly sales in the segment were in March 2009, when it sold 129,358 units. Meanwhile, overall sales across the industry grew 45 per cent at 1,114,157 units. The earlier record of highest ever monthly sales was in October 2006, when the industry had sold 1,017,198 units. Individually, the umbrella passenger vehicle segment posted a 37 per cent growth, while the commercial vehicle (CV) segment grew 131 per cent. Also, the two-wheeler and three-wheeler segments rose 43 and 47 per cent, respectively.
Post a Comment
Read more