HDFC Bank Ltd has posted a 30.6 per cent rise in net profit at Rs 117.14 crore (Rs 1,171.4 million) for the second quarter ended September 30, 2003, compared to Rs 89.69 crore (Rs 896.9 million) in same period last fiscal.

Total income for the period under review also increased to Rs 726.5 crore (Rs 7,265 million) as against Rs 607.28 crore (Rs 6,072.8 million) in Q2 of the previous financial year, the bank said in a release in Mumbai on Friday.

Net revenues in Q2 of 2003-04 grew to Rs 424.1 crore (Rs 4,241 million) [Rs 316.8 crore (Rs 3,168 million) in the same period of FY03], it said, adding, the net interest income rose by Rs 148.6 crore (Rs 1,486 million) at Rs 337.8 crore (Rs 3,378 million).

For the half year ended September, the net profit and total income increased to Rs 224.4 crore (Rs 2,244 million) and Rs 1,433.2 crore (Rs 14,332 million), respectively.

As of September 2003, total deposits were Rs 25,197 crore (Rs 251.97 billion) [Rs 19,606 crore (Rs 196.06 billion) in September 2002]. The bank's core customer assets increased from Rs 10,956 crore (Rs 109.56 billion) to Rs 15,822 crore (Rs 158.22 billion).

Retail loans grew 130.9 per cent on a year-on-year basis to Rs 4,555 crore (Rs 45.55 billion) and now form 32 per cent of gross advances. Total number of retail accounts increased from 28 lakh (2.8 million) to 36 lakh (3.6 million) as on September 2003.

The net non-performing assets stood at 0.37 per cent of customer assets while the capital adequacy ratio was pegged at 10.9 per cent.