India’s second largest private sector lender HDFC Bank has clocked a 44.8% rise in its net profit for the third quarter. The net profit grew to Rs.621.74 Cr during the quarter ended December 31,2008 against Rs. 429.36 crore in the year-ago period.
HDFC Bank executive director Mr.Paresh Sukhtankar said that “the bank is well positioned to maintain the business growth and expects the NPA levels under manageable levels”. The lenders’s total income during the quarter rose 58% to Rs.5,407.89 crore from Rs.3,405.79 crore in the year-ago period. On the other hand, the interest income grew 63% to Rs.4,468.50 crore. The non-interest income jumped around 40% to Rs.934.4 crore from Rs.679.9 crore in the year ago period.