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Friday, September 22, 2023

HDFC Bank net profit rises 22.8 % YoY at Rs 10,055, for March quarter

NEW GARBAGE: HDFC Bank on Saturday reported an increase of 22.8 per cent annual revenue (YoY) on the March quarter of Rs 10,055.20 crore after providing a tax of Rs 2,989.50 crore. The bank reported making a profit of Rs 8,187 crore in the last quarter.

Analysts’ survey on ET NOW revealed a profit of Rs 10,200 crore.

Profit residual interest (NII), the difference between the interest rate earned by the bank on its borrowing activities and the interest paid by investors, increased by 10.2 per cent to Rs 18,872.70 crore from Rs 17,120.20 crore in the last quarter. The ET NOW survey estimates the value of NII at Rs 19,400 crore.

Net interest margin (NIM) stands at 4 percent of total assets and 4.2 percent based on net assets. NIM for the quarter of December stood at 4.2 percent and 4.1 percent in the last quarter.


Total non-performing assets as a percentage of total development stood at 1.17 percent compared to 1.26 percent in the December quarter and 1.32 percent in the previous quarter. The total demand was 182% of the total NPA since March 31.

Progress was up 20.8 per cent per quarter by Rs 13,68,821 crore. The bank said it continued to add new debt relationships at a strong rate of 24 lakh during the quarter. Liquidity inflation rate, he said, stands at 112 percent, above regulatory requirements.

The bank said interest rates for the quarter increased by 28.8 percent for YoY by Rs 7,637.10 crore compared to Rs 7,593.90 crore for the previous quarter. Trading revenue increased by 10.6 per cent of YoY while inflation increased by Rs 5,630 crore.

The total cost of the quarterly debt stands at 0.96 percent, slightly higher than 0.94 percent in the December quarter and 1.64 percent in the same quarter last year. The total balance sheet increased by 18.4 YoY to Rs 20,68,535 crore from Rs 1,74,6871 crore.


Quarterly deposit increased by 16.8 per cent of YoY by Rs 15,59,217 crore.

The stock closed at Rs 1,464.85, down 1.90 percent on Wednesday. It traded 3.49 times its book value compared to 3.03 times at ICICI Bank and 2.14 times at Axis Bank.

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