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News Release HDFC Bank Limited: Financial Results (Indian Gaap) For The Quarter and Year Ended March 31, 2012

HDFC Bank reported its financial results for the quarter and year ended March 31, 2012. For the quarter, total income grew 32.1% to Rs. 8,880 crores. Net revenues increased 19.3% to Rs. 4,880.3 crores driven by a 22.2% loan growth and net interest margin of 4.2%. Fees and commissions grew 23.7% and were the largest contributor to other income. Operating expenses grew 23.5% due to expanding the branch network by 558 new branches. Provisions were Rs. 298.3 crores, down from Rs. 431.3 crores in the same period last year. After tax, net profit for the quarter was

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100 views3 pages

News Release HDFC Bank Limited: Financial Results (Indian Gaap) For The Quarter and Year Ended March 31, 2012

HDFC Bank reported its financial results for the quarter and year ended March 31, 2012. For the quarter, total income grew 32.1% to Rs. 8,880 crores. Net revenues increased 19.3% to Rs. 4,880.3 crores driven by a 22.2% loan growth and net interest margin of 4.2%. Fees and commissions grew 23.7% and were the largest contributor to other income. Operating expenses grew 23.5% due to expanding the branch network by 558 new branches. Provisions were Rs. 298.3 crores, down from Rs. 431.3 crores in the same period last year. After tax, net profit for the quarter was

Uploaded by

john_muellor
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© Attribution Non-Commercial (BY-NC)
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-----------------------------------------------------------------------------------------------------------------------------------------Regd.

Office : HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai 4000 13

NEWS RELEASE HDFC Bank Limited


FINANCIAL RESULTS (INDIAN GAAP) FOR THE QUARTER AND YEAR ENDED MARCH 31, 2012
The Board of Directors of HDFC Bank Limited approve d the annual audited (Indian GAAP) accounts for the year ended March 31, 2012, a t their meeting held in Mumbai on Wednesday, April 18, 2012. FINANCIAL RESULTS: Profit & Loss Account: Quarter ended March 31, 2012 The Banks total income for the quarter ended March 31, 2012, was ` 8,880.0 crores an increase of 32.1% over ` 6,724.3 crores, for the quarter ended March 31, 20 11. Net revenues (net interest income plus other income) was at ` 4,880.3 crores for the quarter ended March 31, 201 2 as against ` 4,095.2 crores for the corresponding quarter of th e previous year. Net interest income (interest earned less interest expended) for the quarter ended March 31, 2012 grew by 19.3% to ` 3,388.3 crores as against ` 2,839.5 crores for the quarter ended March 31, 201 1. This was driven by loan growth of 22.2% and a core net i nterest margin for the quarter of 4.2%. Other income (non-interest revenue) for the quarter ended March 31, 2012 was ` 1,492.0

crores up 18.8% over that in the corresponding quar ter ended March 31, 2011. The main contributor to other income for the quarter was fee s & commissions of ` 1,237.3 crores, up by 23.7% over ` 1,000.6 crores in the corresponding quarter ended March 31, 2011. The two other components of other income were foreign exchange & derivatives revenue of ` 325.2 crores ( ` 245.4 crores for the corresponding quarter of the p revious year) and loss on revaluation / sale of investments of ` 71.5 crores (profit of ` 8.6 crores for the quarter ended March 31, 2011). Operating expenses for the quarter were ` 2,467.1 crores, an increase of 23.5% over ` 1,998.4 crores during the corresponding quarter of the previous year. The banks branch distribution network expanded by 558 branches in 40 3 new cities during the year resulting in a core cost-to-income ratio for the quarter at 49.8% as against 48.9% for the corresponding quarter ended March 31, 2011. Provisions and contingencies were ` 298.3 crores (including specific loan loss and floating provisions of ` 291.7 crores) for the quarter ended March 31, 2012 as against ` 431.3 crores (including specific loan loss and floa ting provisions of ` 330.1 crores) for the corresponding quarter ended March 31, 2011. After p

roviding ` 661.8 crores for taxation, the

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