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HDFC Bank reported a net profit of Rs 2,327 crore for the quarter ended March 2014 compared to Rs 1,890 crore in the corresponding quarter last year, recording a growth of 23% — the slowest in over 10 years.
In This Pic : HDFC bank
Pic Courtesy : BCCL
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The bank attributed the slowdown to a higher tax liability this year compared to the previous year.
In This Pic : HDFC bank
Pic Courtesy : BCCL - Non Copyright
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The country's most valuable private bank also saw growth in high-margin retail loans slowing down due to sluggishness in auto sales and a drop in gold loans.
In This Pic : HDFC bank
Pic Courtesy : BCCL - Non Copyright
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The bank's total income grew nearly 15% to Rs 12,790 crore from Rs 11,128 crore a year earlier on the back of an over 20% growth in assets.
In This Pic : HDFC bank
Pic Courtesy : BCCL
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It has recommended a dividend of Rs 6.85 per equity share of Rs 2 for the year ended March 31 as against Rs 5.5 in FY13. For FY14, the bank posted a net profit of Rs 8,478 crore, an increase of 26% from Rs 6,726 crore in FY13.
In This Pic : HDFC bank
Pic Courtesy : BCCL
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