HDFC Bank Ltd (NYSE: HDB) reported a Q2 consolidated net revenue increase of 114.8% Y/Y to INR 66,317 crore ($8.02 billion).
The company's consolidated profit after tax for the quarter rose 51.1%. Earnings per share for the quarter ended September 30, 2023, was INR 22.2.
On a standalone basis, the Bank's net revenue rose by 33.1% Y/Y to INR 38,093 crore in the quarter. The company reported a net profit growth of 50.6% Y/Y to INR 15,976 crore.
Net interest income (interest earned less interest expended) grew 30.3% Y/Y to INR 27,385 crore, with a core net interest margin of 3.65% on total assets and 3.85% on interest earning assets.
As of September 30, 2023, total deposits stood at INR 21,72,858 crore (+29.8% Y/Y), and gross advances came in at INR 23,54,633 crore (+57.7% Y/Y).
As of September 30, 2023, Tier 1 CAR stood at 17.8%, and Common Equity Tier 1 Capital ratio was at 17.3%.
Also, gross non-performing assets stood at 1.34% of gross advances as of September 30, 2023, vs 1.23% a year ago.
In July, HDFC Bank disclosed the merger closure of HDFC Ltd., India's premier housing finance company, effective July 1, 2023.
Price Action: HDB shares are trading higher by 1.94% at $59.33 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.