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HDFC Bank announced Q1FY25 results:
Consolidated:
- The Bank's consolidated net revenue grew by 106.5%, reaching Rs 724.2 billion for Q1FY25 from Rs 350.7 billion in Q1FY24.
- Consolidated profit after tax for Q1FY25 was Rs 164.7 billion, marking a 33.2% increase compared to Q1FY24.
- Earnings per share for Q1FY25 was Rs 21.7.
- The book value per share as of June 30, 2024, was Rs 625.4.
Standalone:
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Net revenue grew by 23.4% to Rs 405.1 billion for Q1FY25 from Rs 328.3 billion for Q1FY24.
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Net interest income for Q1FY25 grew by 26.4% to Rs 298.4 billion from Rs 236.0 billion in Q1FY24.
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Core net interest margin was 3.47% on total assets and 3.66% on interest-earning assets.
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Other Income:
- Other income (non-interest revenue) for Q1FY25 was Rs 106.7 billion, up from Rs 92.3 billion in Q1FY24.
- Components of other income included:
- Fees & commissions: Rs 70.5 billion (up from Rs 62.9 billion).
- Foreign exchange & derivatives revenue: Rs 14.0 billion (up from Rs 13.1 billion).
- Net trading and mark to market gain: Rs 2.2 billion (down from gain of Rs 5.5 billion).
- Miscellaneous income: Rs 20.1 billion (up from Rs 10.8 billion), including recoveries and dividend.
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Operating Expenses:
- Operating expenses for Q1FY25 were Rs 166.2 billion, up 18.2% from Rs 140.6 billion in Q1FY24.
- Cost-to-income ratio for the quarter was 41.0%.
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Provisions and Contingencies:
- Provisions and contingencies for Q1FY25 were Rs 26.0 billion, down from Rs 28.6 billion in Q1FY24.
- Total credit cost ratio decreased to 0.42% from 0.70% in Q1FY24.
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Profitability:
- Profit before tax (PBT) for Q1FY25 was Rs 212.8 billion.
- Profit after tax (PAT) for Q1FY25 was Rs 161.7 billion, up 35.3% from Q1FY24.
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