What Should Investors Do With HDFC Bank After Q3 Result: Buy, Sell Or Hold? moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
HDFC Bank hits record high after Q3 net profit jumps over 18% YoY
Premium
(REUTERS)
Share Via
Read Full Story
MUMBAI: Shares of HDFC Bank rose 2.5% to hit a record high of Rs1,503 on Monday after the private lender reported an 18.1% year-on-year (y-o-y) increase in its December quarter net profit to ₹8,758.29 crore. Total income rose 4.1% to Rs37,522.92 crore during the period.
Net interest income for the quarter ended December grew 15.1% to Rs16,317.6 crore from Rs14,172.9 crore in the year-ago period, driven by a 15.6% in growth in advances, with core net interest margin for the quarter at 4.2%. The bank s focus on deposits helped it maintain a healthy liquidity coverage ratio of 146%, well above the regulatory requirement.
But tiding over hurdles in new credit card origination and management churn, hold key to sustaining premium valuation
HDFC Bank’s business update that was released over a week ago, reporting 16 per cent YoY growth in loans way above the industry growth of 6.7 per cent, and strong traction in low cost CASA deposits, had suggested continued growth momentum for the private lender in the December quarter. In line with market expectations, HDFC Bank has delivered a healthy financial performance, reporting 18 per cent YoY growth in profit in December quarter, aided by healthy traction in corporate loans and trading gains, even as excess liquidity continued to weigh on the bank’s core net interest margin (NIMs).
India Business News: The country's largest private sector lender HDFC Bank on Saturday reported a 14.36 per cent jump in consolidated net profit to Rs 8,760 crore for the
Updated Jan 16, 2021 | 19:23 IST
The private lender s net interest income grew 15.1% year-on-year to Rs 16,317.6 crore for the quarter under review HDFC Bank | Photo Credit: BCCL
New Delhi: Private lender HDFC Bank on Saturday reported a net profit of Rs 8,758 crore against
Rs 7,416.48 crore reported in the same period last year. According to ET Now polls the lender was expected to report a net profit of Rs 8,400 crore.
The private lender s net interest income grew 15.1% year-on-year to Rs 16,317.6 crore for the quarter under review.
HDFC Bank’s gross non-performing assets ratio for the quarter stood at 0.8 per cent. The net non-performing assets ratio was at 0.09 per cent as against 0.17 per cent in the previous quarter.