HDFC earns Rs. 13,070.7 crores for the quarter ending June 30
The accounts have been subject to a 'Limited Review’ by the statutory auditors of the Bank.
For the quarter ended June 30, 2014, the Bank’s total income was Rs. 13,070.7 crores and net revenues (net interest income plus other income) were at Rs. 7,022.2 crores.
Core net revenues, excluding the impact of bond gains, were at Rs. 6,997.2 crores for the quarter ended June 30, 2014, an increase of 13.9% over Rs. 6,144.8 crores in the corresponding quarter of the previous year.
Interest earned increased by 16.1% from Rs. 9,663.0 crores for the quarter ended June 30, 2013 to Rs. 11,220.1 crores for the quarter ended June 30, 2014.
Net interest income (interest earned less interest expended) for the quarter ended June 30, 2014 accounted for 74% of net revenues and grew by 17.0% to Rs. 5,171.6 crores, from Rs. 4,418.7 crores for the quarter ended June 30, 2013.
Net interest margin for the quarter was at 4.4% as against 4.4% for the quarter ended March 31, 2014 and as against 4.6% for the corresponding quarter ended June 30, 2013.
Other income (non-interest revenue) at Rs. 1,850.6 crores was 26% of the net revenues for the quarter ended June 30, 2014.
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