HDFC Bank Ltd share Price

HDFC Bank is a leading private sector bank with consistent growth and operational performance over various cycles. The bank has maintained superior return ratios compared to its peers resulting in premium valuations.

• Largest private sector bank with loan book of ₹ 13.9 lakh crore
• Consistent performance with +4% NIM and +15% RoE in past many years

Treasury loss impact PAT, slippages elevated; mixed operations.

• Loans were up 21.6% YoY at ₹ 13.9 lakh crore; deposits up 19.2% YoY
• NII up 14.5% YoY, NIM stable QoQ at 4.0%, C/I at 40.6% vs 38.3% QoQ
• Credit cost at 0.91%, PAT up 19% YoY at ₹ 9196 crore
• GNPA up 11 bps QoQ to 1.28%, restructured book at 89 bps

HDFC Bank announced Q1FY24 results:

• Consolidated Q1FY24:
  • The Bank's consolidated net revenue grew by 25.9% to Rs 35,067 crore for Q1FY24 from Rs 27,844 crore for Q1FY23.
  • The consolidated net profit for Q1FY24 was Rs 12,370 crore, up 29.1%, over Q1FY23.
  • EPS for Q1FY24 was at Rs 22.2 and book value per share as of June 30, 2023, was Rs 542.7
• Standalone Q1FY24:
  • The Bank's net revenue grew by 26.9% to Rs 32,829 crore for Q1FY24 from Rs 25,870 crore for Q1FY23.
  • Net interest income (interest earned less interest expended) for Q1FY24, grew by 21.1% to Rs 23,599 crore from Rs 19,481 crore for Q1FY23. The core net interest margin was at 4.1% on total assets, and 4.3% based on interest-earning assets.
  • Other income, excluding net trading and mark-to-market income, grew by 16.2% over Q1FY23.
  • Operating expenses for Q1FY24 were Rs 14,057 crore, an increase of 33.9% over Rs 10,502 crore during Q1FY23. The cost-to-income ratio for the quarter was at 42.8%.
  • The total credit cost ratio was at 0.70%, as compared to 0.91% for Q1FY23.
  • Profit before tax (PBT) for Q1FY24 was at Rs 15,912 crore. After providing Rs 3,960 crore for taxation, the Bank earned a net profit of Rs 11,952 crore, an increase of 30.0% over Q1FY23.
  • Total balance sheet size as of June 30, 2023 was % 25,01,693 crore as against Rs 21,09,772 crore as of June 30, 2022, a growth of 18.6%.

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