HDFC Bank Ltd has posted a 31.8 per cent rise in net profit at Rs 130.36 crore (Rs 1,303.6 million) for the third quarter ended December 31, 2003, compared to Rs 98.88 crore (Rs 988.8 million) reported in same period of the previous year.

Total income in the period under review increased to Rs 779.39 crore (Rs 7,793.9 million) as against Rs 640.8 crore (Rs 6,408 million) posted in Q3 of fiscal 2002-03, an HDFC Bank release said in Mumbai on Friday.

The interest earned stood at Rs 658.3 crore (Rs 6,583 million) [Rs 500.92 crore (Rs 5,009.2 million) in Q3 of last year] while other income declined to Rs 121.09 crore (Rs 1,210.9 million) [Rs 139.88 crore (Rs 1,398.8 million)], it said.

For the nine months ended December, net profit and total income rose to Rs 354.78 crore (Rs 3,547.8 million) [Rs 270.98 crore (Rs 2,709.8 million)] and Rs 2,212.6 crore (Rs 22.13 billion) [Rs 1,802.52 crore (Rs 18.02 billion)] respectively.

As on December 2003, total deposits were Rs 29,606 crore (Rs 296.06 billion) [Rs 21,317 crore (Rs 213.17 billion)], an increase of 38.9 per cent. The bank's core customer assets, including advances, corporate debentures and commercial paper, rose from Rs 11,308 crore (Rs 113.08 billion) to Rs 17,027 crore (Rs 170.27 billion), it added.

Gross retail loans grew by 113 per cent on a year-on-year basis at Rs 5,334 crore (Rs 53.34 billion).

The net non-performing assets stood at 0.3 per cent of customer assets and 0.4 per cent of advances. The capital adequacy ratio was pegged at 10.7 per cent.

The branch network in the current fiscal was expanded to 275 outlets in 147 cities from 214 in 111 cities in December 2002. The number of debit cards crossed two million while credit cards issued were at 425,000.