HDFC Bank Q4 Net 18.17%; No dividend for FY21

HDFC Bank reported an increase of 18.17 percent year-on-year in standalone net profit for the quarter ended March 2021 (Q4FY21) to Rs 8,186.5 crore from Rs 6,927.6 crore in the year-ago period.

However, on a sequential basis, standalone net profit declined 6.5 percent as compared to Rs 8,758 crore in the December quarter (Q3FY21). The bank’s board of directors decided against announcing any dividend for FY21, the second in view of the coronovirus wave.

The net profit for the financial year ended March 2013 was Rs 31,145.5 crore, which was 1 for .5 percent in the financial year ended March 2020.

The bank said net interest income (NII) – the difference between loans given to depositors and interest earned through interest – increased 12.6 per cent to Rs 17,120 crore in the quarter under review as compared to Rs 15,204 crore in the same period. year.

According to the bank, the total advances till March 2021 were Rs 11,32,837 crore, an increase of 14.0 percent in March 2020. Domestic advances increased 14.1 percent in March 2020.

According to the regulatory segment classification, domestic retail lending grew by 6.7 percent and domestic wholesale loan by 21.7 percent. The total deposits as on March 2021 were Rs 13,35,060 crore, which was 16.3 percent in March 2020.

Gross non-performing assets (NPAs) as of March 2021 stood at Rs 15,086 crore or 1.32 per cent of gross advances, as against 1.38 per cent (proforma outlook) of December last year and 1.26 per cent as on March 2020. Net NPA was up by 0.40 percent as of March 2021.

“The bank has continued to make provisions based on the information available at this time against the potential impact of Kovid-19 on March 31, 2021 and exceeds the norms set by the RBI.”

As of March 2021, the bank had provisional provisions of Rs 1,451 crore and contingency provisions of Rs 5,861 crore. The total provisions (including specific, temporary, contingent and general provisions) amounted to 153 percent of gross non-performing loans as of 31 March. 2021.

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