The lender reported a growth 15.1 per cent in its net interest income for the reported quarter to Rs. 16,317.6 crore, which was also above estimate.
An average of estimates from five brokerages showed that the private lender may report net profit of Rs. 7,629 crore. Analysts had expected the bank to report net interest income of Rs. 16,109.2 crore.
HDFC Bank’s gross non-performing assets ratio for the quarter stood at 0.8 per cent, ICICI Securities expected the metric to come in at 0.4 per cent. The net non-performing assets ratio was at 0.09 per cent as against 0.17 per cent in the previous quarter.
The lender said that without accounting for Supreme Court’s standstill, gross NPA ratio was at 1.38 per cent in December and net NPA ratio was at 0.4 per cent.
HDFC Bank’s advances grew 16% on-year in the December quarter to Rs. 10.8 lakh crore, whereas its deposits climbed 19 per cent on-year to Rs. 12.7 lakh crore.
The lender’s credit cost in the quarter fell to 1.25 per cent from 1.41 per cent, a quarter ago. Provisions and contingencies in the quarter were at Rs. 3,414.1 crore as compared to Rs. 3,043.6 crore in the corresponding quarter a year ago.
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24 Comments on this Story
Prakash Raghunathan42 days ago
very nice of Hdfc bank to beat estimates, Hope other banks will also follow.
Prakash Ramiah43 days ago
Shelterable space creation and absorbtion is the new way housing not a commodity,but right as pet un spl rapporteur report to united nation. Housing has been classified as light,mig,hig .but the on going debate is to measure it in fsi basis .7n the name of housing banks have been monitising land at the cost of depositors money. Banks will be asked to limit exposure on coc basis both for projects and finished one to housing loan seekers.in that scenario large float money of parent company hdfc will not be able to get that leverage. Lic ,lic housing rate of 6.9 percent and sbi can only be long term advantage position. If one nation one housing policy if distribution of basic fsi is implimented lot of portfolio mismatches will happen both from development side and off takes. A bank like hdfc ,hdfc bank market share and positions are really having tough times ahead. If one reads t n govt aff hsg policy voucher scheme is recommended.this is nothing but dual pricing and treatment of land cost and price monitering by rera and prospeemectus filing and pricing,price descrimination. For eg if a flat is sold at one lac per sq ft and coc is 10000 ,valurle of land is 90000 per sq ft meaning per acre is around 360 cr. If fsi is 1,2,3,4 and per acre may be from 90 cr 360 cr is the valuation. So by holding a one acre plot of land valued at 200 cr can be leveraged for 200 acre coffee,tea plantation in karnataka or t n. This kind of cross collateralisation is the issue for worry for all.
Jay Gaikwad43 days ago