HDFC Bank Q3 net up 45%

MUMBAI: HDFC Bank today reported a higher-than-expected 45% increase in net profit at Rs 621 crore for the third quarter ended December 31, 2008 when compared with Rs 429 crore in Q3FY08.

Net interest income increased 38% to Rs 1,979 crore from Rs 1,437 crore in the year-ago period - in line with expectations.

Other Numbers

Interest earned up 63.87% at Rs 4,468.5cr vs Rs 2,726cr

Interest expanded up 93.07% at Rs 2,489.25cr vs Rs 1,289.32cr

Provisions up 25.68% at Rs 531.79cr vs Rs 423.13cr

Other income up 38.37% at Rs 939.39cr vs Rs 678.89cr

Interest on investment up 33.50% at Rs 1,028.21cr vs Rs 770.19cr

Gross NPAs at 1.90% - up from 1.20%

Net NPAs at 0.60% - up from 0.40%

Total deposits up 45.8% at Rs 1.44 lakh crore

Savings account deposits increased 32.5% to RS 33,081cr

Time deposits increased 79.35% to Rs 87,523cr