HDFC Bank Q4 results: 20% YoY PAT growth, Rs 19/share dividend, misses estimates

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PPP increased 14.4% YoY at Rs 18,621 crore. Provisions and contingencies were  Rs 2,685.4 crore,  down from Rs 3,312.4 crore a year earlier. HDFC Bank Ltd.’s  March quarter net profit rose almost  20% to  Rs 12,047 crore on Saturday. Revenue rose 31% at Rs 53,851 crore.

PAT increased 20% YoY in Q4 for HDFC Bank

HDFC paying a final dividend

The board authorised a final dividend of Rs 19 per share. Seven brokerages  anticipated the lender’s  net profit would grow 21% to Rs 12,180 crore.

HDFC Q4 results 2023

For the March quarter, net interest income rose 24% to Rs 23,352 crore.

Core net interest margin was 4.1% on total assets and 4.3% on interest-earning assets.

In the quarter, other income grew 27% to Rs 8,731 crore, helping the bank’s bottom line.

PPP increased 14.4% YoY at Rs 18,621 crore. Provisions and contingencies were Rs 2,685.4 crore, down from Rs 3,312.4 crore a year earlier.

Private lenders have steady asset quality. March’s gross non-performing assets ratio was 1.12%, down from 1.23% a quarter earlier and 1.17% a year earlier.

Net non-performing assets were 0.27% at March-end, down from 0.33%  a quarter earlier and  0.32% a year earlier.

The capital adequacy ratio rose to 19.26% on March 31 from 18.90% a year earlier and 17.66% a quarter earlier.

BANK’s Other Valuations

Bank’s deposits rose 21% to Rs 18.83 lakh crore as of March 31. Savings account deposits increased 11.3% to Rs 5.62 lakh crore and current account deposits at Rs 2.73 lakh crore. Advances jumped 17% to Rs 16 lakh crore on March 31. Domestic retail loans rose 21%,  commercial  and rural banking loans 30%, and corporate and other wholesale loans 12.6%. 2.6% were overseas advancements.

Bank Results Analysis

HDFC Securities struggled in volatile markets throughout the quarter. Revenue fell from Rs 510 crore to Rs 486 crore.

Profit after tax fell to 194 crore from 236 crore a year earlier. HDB Financial Services, a non-deposit-taking non-banking financing subsidiary  of HDFC Bank, recorded a roughly  6%  YoY net  revenue rise to Rs 2,262.5 crore. After-tax profit rose 28% to Rs 545.5 crore.

What happened to HDFC Bank in Q4 FY 2023?

Ans. Bank’s Q4 FY2023, Dividend: HDFC Bank’s March 2023 consolidated net profit rose 20.60% to Rs 12,594.47 crore. For the financial year ending March 31, 2023, India’s biggest private sector lender will pay a last dividend to shareholders.

How did HDFC Bank’s net revenue perform in March 2023?

Ans. In the March 2023 quarter, HDFC Bank’s standalone net income rose 21% to Rs 32,083 crore from Rs 26,509.8 crore.

Will HDFC Bank consider dividends for financial year ending on March 31?

Ans. The board authorized a final dividend of Rs 19 per share.

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