Mumbai: HDFC Bank Ltd on Friday reported 18.25% increase in net profit in the fourth quarter due increase in other income and net interest income, beating market estimates.
Net profit for the quarter increased to Rs3,990.09 crore compared with Rs3,374.22 crore a year ago. According to 25 Bloomberg analysts, the bank was estimated to post a net profit of Rs3,939.80 crore.
Net interest income (NII), or the core income a bank earns by giving loans, rose 21.29% to Rs9,055.1 crore in the March quarter from Rs7,453.34 crore last year.
Other income increased 20.25% to Rs3,446.26 crore in the fourth quarter from Rs2,865.86 crore in the same period last year.
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