Photo: MintMumbai: HDFC Bank Ltd on Thursday said its fiscal first-quarter net profit rose 20.15% from a year ago on higher net interest income and other income. Net profit for the quarter stood at Rs.3,238.91 crore in the three months ended 30 June from Rs.2,695.72 crore a year ago. According to a poll of 23 Bloomberg analysts, the bank was expected to post net profit of Rs.3,275.40 crore. Net interest income (NII) or the core income a bank earns by giving loans, increased 21.8% to Rs.7,781.44 crore from Rs.6,388.70 crore last year. Provisions and contingencies jumped 30.84% to Rs.866.73 crore in the quarter from Rs.662.45 crore a quarter ago.

Source: Mint July 21, 2016 06:54 UTC