India's HDFC Bank Ltd. posted a 15.1% year-over-year increase in net profit for the fiscal third quarter ended Dec. 31, 2016.
The bank's net profit for the period rose to 38.65 billion Indian rupees, or 15.0 rupees per share, from 33.57 billion rupees, or 13.1 rupees per share, in the prior-year period.
Net interest income for the quarter increased to 83.09 billion rupees from 70.69 billion rupees in the year-ago period, while total income climbed year over year to 207.48 billion rupees from 182.83 billion rupees.
Provisions and contingencies for the quarter totaled 7.16 billion rupees, up from 6.54 billion rupees in the prior-year period.
For the nine months ended Dec. 31, 2016, net profit grew 18.4% to 105.60 billion rupees, or 41.1 rupees per share, from 89.22 billion rupees, or 35.0 rupees in the year-ago period.
At the end of 2016, the bank's gross nonperforming assets clocked in at 1.05%, up from 1.02% as of Sept. 30, 2016, and 0.97% as of Dec. 31, 2015. The net NPA ratio stood at 0.32%, an increase from 0.30% at the end of September 2016 and 0.29% at the end of 2015.
The capital adequacy ratio was at 15.9% at the end of the period, higher than 15.4% as of Sept. 30, 2016, but level with the ratio recorded at the end of December 2015.
As of Jan. 23, US$1 was equivalent to 68.14 Indian rupees.