BAJAJ BROKING
HDFC Bank, India's largest private lender by market value, announced its financial results for the second quarter of fiscal 2024-25 (Q2FY25) on Saturday. The bank reported a 5.3 percent rise in net profit to ₹16,821 crore as against ₹15,976 crore in the same period last year.
While HDFC Bank's net profit and total income showed healthy growth, the bank's asset quality deteriorated slightly. Gross and net NPAs both increased compared to the previous year. This is seen as a concern, as it indicates a rise in bad loans.
Metric | Q2 FY24-25 | Q2 FY23-24 | % change |
Net Profit (₹ Cr) | 16,821 | 15,976 | 5.3% |
Net Interest Income (₹ Cr) | 30,110 | 27,390 | 10% |
Total Balance Sheet (₹ Cr) | 36,88,100 | 34,16,300 | 8% |
Net Non-Performing Assets (NPAs) | 0.41% | 0.35% | - |
On the positive side, the bank's deposits and advances continued to grow, reflecting strong customer confidence. The bank also maintained a healthy credit cost ratio.
Net interest income - the difference between the interest earned by the bank and paid, rose by 10 percent to ₹30,110 crore.
HDFC Bank’s total income increased to ₹85,500 crore in Q2 as against ₹78,406 crore in the same period last year. The bank reported interest income of ₹74,017 crore during the quarter compared to ₹67,698 crore last year.
The bank’s asset quality saw a slight dip with the gross non-performing assets (NPAs) rising to 1.36 percent of loans by the end of Q2 (from 1.34 percent at the end of Q2 last fiscal.)
Net NPAs on the other hand, (bad loans) rose to 0.41 percent (up from 0.35 percent) in the same period last year.
Operating expenses rose 9.7 percent to ₹16,890 crore in Q2 as against ₹15,400 crore during the same quarter last year. Gross advances of the bank increased by 7 percent on-year to ₹25.19 lakh crore.
Commercial and retail banking grew 17.4 percent while retail loans grew by 11.3 percent. Corporate and wholesale loans were lower by 12 percent over the previous year.
As of September 30, 2024, the bank’s distribution network included 9,092 branches and 20,993 ATMs across 4,088 cities (vs 7,945 branches and 20,596 ATMs as of September-end last year).
HDFC Bank employed 2,06,758 as of September 30, 2024 (as against 1,97,899 in the same period last year).
HDFC Bank share price was trading at ₹1,672.70 at 3:30 PM on 17th Oct’24.
Check out HDFC Bank’s past performances in previous quarters and financial years.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article:
7th Pay Commission Leave Rules & Holidays in India
11 Dec, 2024 | 5 Min. read
Wipro Ltd
11 Dec, 2024 | 7 Min. read
Aditya Birla Group
11 Dec, 2024 | 10 Min. read
What is the Lock-in Period in IPO
11 Dec, 2024 | 6 Min. read
Textile Sector in India
11 Dec, 2024 | 11 Min. read
Step-by-Step Guide to Accessing Your Income Tax Assessment Order Online
11 Dec, 2024 | 3 Min. read
IPO vs FPO vs OFS: Key Differences in How Companies Raise Capital
11 Dec, 2024 | 8 Min. read
Gold Price in India - Gold Prices Edge Higher as Futures Hit $2,654.50
11 Dec, 2024 | 39 Min. read
Indian Overseas Bank Secures ₹1,359 Crore Income Tax Refund for AY 2015-16
11 Dec, 2024 | 2 Min. read
HG Infra Secures ₹899 Crore NH-227B Road Upgrade Project in UP
11 Dec, 2024 | 2 Min. read
NTPC Green Energy Secures 500 MW Solar Project with 250 MW ESS from SECI
11 Dec, 2024 | 2 Min. read
Awfis Space ₹583 Crore Block Deal Launches at ₹680 Floor Price
11 Dec, 2024 | 2 Min. read
RBI Launches ULI: Transforming Loan Access
August 27, 2024 | 4 Min. read
Textile Sector in India
September 20, 2024 | 5 Min. read
List of IPOs with DRHPs Filed
November 30, 2023 | 3 Min. read
Aditya Birla Group
September 28, 2023 | 10 Min. read
Bajaj Housing Finance Ltd IPO: Things Smart Investors Need to Know
September 05, 2024 | 4 Min. read
Budget Stock Ideas 2024-2025 | Stocks to Buy Today
July 24, 2024 | 4 Min. read
IPO Eligibility Criteria : Full Details
March 15, 2024 | 6 Min. read
What Is the Lock-In Period in IPOs?
October 18, 2023 | 6 Min. read
Godfrey Phillips Announces 2:1 Bonus Shares
September 16, 2024 | 7 Min. read
Jindal Group- A Comprehensive Analysis
September 27, 2024 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading