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HDFC Bank Q2 net at Rs 89.7 cr

Mumbai, Oct. 18: HDFC Bank Ltd has reported a 29.35 per cent rise in net profit at Rs 89.69 crore for the second quarter ended September 30, 2002, compared with Rs 69.34 crore in same period of previous fiscal.

Total income in the reporting period has increased to Rs 603.24 crore as against Rs 489.68 crore in the second quarter of last year, the bank said in a release here today.

Interest earned in the second quarter of fiscal 2002-03 was also higher at Rs 481.73 crore (Rs 413.19 crore in same period of last fiscal).

For the six months ended September, the net profit rose by 31 per cent at Rs 172.10 crore (Rs 131.35 crore) while the total income increased to Rs 1,163.72 crore (Rs 945.15 crore).

During the first half of the current year, bank’s growth in each of its major business franchises and in particular in the retail business was driven primarily by enhanced customer acquisition, accelerated geographic expansion and higher levels of penetration, it added.

As on September 30, total deposits of HDFC Bank were Rs 19,606 crore (Rs 14,279 crore) while customer assets increased to Rs 11,750 crore (Rs 8,177 crore).

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