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HDFC Bank Q2 Results: Net profit rises to ₹16,821 crore (up 5.3%), gross NPAs rise slightly

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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.

Key Highlights:

  • Net Profit: Up 5.3% at ₹16,821 crore vs ₹15,976 crore in Q2 last year.
  • Net Non-Performing Assets (NPA): 0.41% at end of Q2 vs 0.35% last year
  • Total Balance Sheet: ₹36,88,100 crore vs ₹34,16,300 crore in the same quarter last year.
  • Net Interest Income: Up 10% at ₹30,110 crore vs ₹27,390 crore last year.
  • Total Deposits: Up 15% at ₹25,00,100 crore; CASA deposits grew 8.1%

HDFC BANK LTD

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HDFC Bank Q2 Results FY24-25:

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.

HDFC Bank Q2 Asset Quality a Slight Concern

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.

9,000+ Branches, 20,900+ ATMs Across India for HDFC Bank

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.

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