HDFC Bank Ltd has posted results for the fourth quarter ended 31st March, 2012.

The net profit was stood at Rs14.53bn as compared to Rs11.14bn for the earlier quarter.

Total Income has increased from Rs. 67243.10 mn for the quarter ended March 31, 2011 to Rs. 88800.20 mn for the quarter ended March 31, 2012.

The bank's Capital adequacy ratio was stood at 16.5% as compared to 16.2% as of 31st March, 2011.

Net interest income (interest earned less interest expended) for the quarter ended March 31, 2012 grew by 19.3% to Rs3,388.3 crores as against Rs 2,839.5 crores for the quarter ended March 31, 2011. This was driven by loan growth of 22.2% and a core net interest margin for the quarter of 4.2%.Other income (non-interest revenue) for the quarter ended March 31, 2012 was Rs1,492.0 crores up 18.8% over that in the corresponding quarter ended March 31, 2011.

The main contributor to other income for the quarter was fees & commissions of Rs1,237.3 crores, up by 23.7% over Rs1,000.6 crores in the corresponding quarter ended March 31, 2011. The two other components of other income were foreign exchange & derivatives revenue of Rs325.2 crores (Rs245.4 crores for the corresponding quarter of the previous year) and loss on revaluation / sale of investments of Rs 71.5 crores (profit of Rs8.6 crores for the quarter ended March 31, 2011).

Operating expenses for the quarter were Rs 2,467.1 crores, an increase of 23.5% over Rs1,998.4 crores during the corresponding quarter of the previous year. The bank’s branch distribution network expanded by 558 branches in 403 new cities during the year resulting in a core cost-to-income ratio for the quarter at 49.8% as against 48.9% for the corresponding quarter ended March 31, 2011.

Provisions and contingencies were Rs298.3 crores (including specific loan loss and floating provisions of Rs291.7 crores) for the quarter ended March 31, 2012 as against Rs431.3 crores (including specific loan loss and floating provisions of Rs330.1 crores) for the corresponding quarter ended March 31, 2011. After providing Rs 661.8 crores for taxation, the Bank earned a Net Profit of Rs1,453.1 crores, an increase of 30.4% over the quarter ended March 31, 2012.

Balance Sheet: As of March 31, 2012

The Bank’s total balance sheet size increased by 21.8% from Rs277,353 crores as of March 31, 2011 to Rs337,909 crores as of March 31, 2012. Total net advances as of March 31, 2012 were Rs195,420 crores, an increase of 22.2% over March 31, 2011. Total deposits were at Rs246,706 crores, an increase of 18.3% over March 31, 2011. Adjusted for one off current account deposits at the ended March 31, 2011, core total deposit growth for the year was 20.6%. Savings account deposits grew 16.6% over the previous year to reach Rs73,998 crores, and with current account deposits at Rs45,408 crores, the CASA ratio was at 48.4% of total deposits as at March 31, 2012.

NETWORK

As of March 31, 2012, the Bank’s distribution network was at 2,544 branches and 8,913 ATMs in 1,399 cities as against 1,986 branches and 5,471 ATMs in 996 cities as of March 31, 2011.