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HDFC Coffer Ltd. said its fourth-quarter net accumulation rose 16% from the year afore as added balance from broad cyberbanking account a weaker retail business and accident accessories for the coronavirus pandemic.
Net accumulation for the January-March division rose to 72.80 billion Indian rupees ($950.8 million) from INR63.01 billion a year earlier, the Indian coffer said Saturday. Operating accumulation rose 2.4% for broad cyberbanking but fell 16% for retail banking.
On a stand-alone basis, net accumulation was INR69.28 billion, missing an appraisal of INR71.23 billion from a FactSet poll of analysts.
The coffer said the civic lockdown to accommodate the advance of coronavirus abnormally afflicted accommodation originations, artefact sales and accumulating efforts.
HDFC said its accoutrement and contingencies angled to INR37.84 billion, including INR15.50 billion of acclaim affluence apropos to the Covid-19 pandemic.
Gross non-performing assets were 1.26% of gross advances as of March 31, bottomward from 1.36% a year earlier.
Consolidated fourth-quarter acquirement added 15% to INR382.87 billion from INR332.60 billion a year earlier.