HDFC net up 30% at Rs 239.3 cr

New Delhi, July 14 (UNI) HDFC Bank today posted 30.38 per cent rise in its net profit at Rs 239.3 crore for the quarter ended June 30, 2006 as compared to Rs 183.53 crore in the corresponding quarter last year.

The Bank's total income registered a 60 per cent increase from Rs 1157.68 crore in Q1 2005-06 to Rs 1855.08 crore Q1 2006-07, a bank statement said.

The HDFC bank's expanded its branch network to 535 outlets in 228 cities in the month against 495 outlets in 217 cities in June 2005.

Portfolio quality as of June 30, 2006 remained healthy with net non-performing assets at 0.4 per cent of advances as of June 30, 2006.

During the quarter ended June 2006, the bank raised Rs 300 crore as Upper Tier II capital and Rs 169 crore as Lower Tier II Capital, both in the form of subordinated bonds. The bank's Capital Adequacy Ratio (CAR) was at 11.8 per cent as of June 30, 2006, of which Tier I CAR was 8.4 per cent.

UNI PV CS KN1430