Mumbai, July 29, 2008: Private sector lender HDFC Bank on Monday reported a net profit of Rs 4.64 billion for the first quarter ended on June 30, against Rs 3.21 billion in the corresponding period a year-ago.

The total income rose to Rs 42.15 billion in the June quarter, from Rs 26.41 billion in the same period of FY'08, HDFC Bank said in a filing to the Bombay Stock Exchange.

The results of the quarter are not comparable with that of the corresponding period last year as the merger of the bank with Centurion Bank of Punjab (CBoP) became effective on May 23, 2008, the filing said.

Driven by average asset growth, the bank's net interest income rose 75 per cent to Rs 17.23 billion.

As of June 30, the bank had 1,229 branches and 2,526 ATMs in 444 cities, it added.

Earlier this year, the bank's board had approved issuance of one equity share in HDFC Bank for every 29 held in CBoP on account of the merger.

Shares of HDFC Bank were trading at Rs 1,129.95, up 0.25 per cent in the late afternoon trade on the BSE.