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HDFC Bank income up 53%

The bank has announced a jump in net profit by 33% and total income by 53%

One of India’s largest banks, HDFC Bank Limited, engaged in providing a range of banking and financial services today shook off the bust and doom sentiment in the investor community by announcing outstanding quarterly results

The bank operates in three segments: retail banking, wholesale banking and treasury services that have made it the second-largest private entity in the banking sector in India.

The bank’s net profit went up by 33 per cent in unaudited results to Rs 630.88 crore for the quarter ended March 31, 2009 whereas the same was at Rs 471.11 crore for the quarter ended March 31, 2008.

Total Income stood taller by 53 per cent at Rs 5365.52 crore for the quarter ended March 31, 2009 whereas the same was at Rs 3505.52 crore for the quarter ended March 31, 2008.

For its audited results of the year the bank has posted a net profit of Rs 2244.95 crore for the year 2009 whereas the same was at Rs 1590.18 crore previous year. This was up by 41 per cent.

Total income surged by 58 per cent to reach Rs 19622.880 crore for the year ended March 31, 2009 whereas the same was at Rs 12398.150 crore for the year ended March 31, 2008.

HDFC Bank Ltd will be paying out a dividend of Rs 10 per equity share of Rs 10 each (i.e. 100%).