HDFC Bank Q2 Results: The country’s largest private lender, reported a net profit of ₹ 8,834.3 crore on Saturday, marking a growth of 17.58 per cent in the second quarter of current fiscal
EarningsEdited by Nikita PrasadUpdated: October 16, 2021, 3:14 pm IST
HDFC Bank Q2 FY22 Results: HDFC Bank, the country’s largest private lender, reported a net profit of ₹ 8,834.3 crore on a standalone basis, marking an increase of 17.58 per cent in the July-September quarter from ₹ 7,513.1 crore during the same period last year. The bank’s total income stood at ₹ 38,754 crore, compared to ₹ 36,069 crore in the year-ago period.
HDFC Bank Q2 Results: Here’s All You Need To Know
1. On a sequential basis, the bank’s standalone net profit increased 14.29 per cent, compared to ₹ 7,729 crore reported at the end of the preceding April-June quarter in the financial year 2020-21.
2. At ₹ 16,346 crore, the bank’s gross non-performing asset (NPA) stood at 1.35 per cent of the gross advances (1.2 per cent excluding NPAs in the agricultural segment), compared to 1.47 per cent in the preceding June quarter, and 1.37 per cent in the year-ago period.
3. HDFC Bank’s net interest income – the difference between interest earned and interest expended – grew 12.1 per cent to ₹ 17,684.4 crore, compared to ₹ 15,776.4 crore in the year-ago period, driven by advances growth of 15.5 per cent, and a core net interest margin of 4.1 per cent.
4. The net NPA in the September quarter stood at ₹ 4,755 crore – which was 0.40 per cent of the net advances, compared to 0.17 per cent in the year-ago period, and 0.48 per cent in the preceding June quarter.
5. The bank’s non-interest revenue (other income) at ₹ 7,600.8 crore was 29.5 per cent of the net revenues and registered a growth of 21.5 per cent, compared to ₹ 6,092.5 crore in the corresponding quarter of the previous fiscal.
6. The operating expenses for the September quarter were ₹ 9,277.9 crore, an increase of 15.2 per cent, compared to ₹ 8,055.1 crore during the corresponding quarter last year. The cost-to-income ratio for second quarter stood at 37 per cent.
7. HDFC Bank’s net revenues – net interest income plus other income, increased by 14.7 per cent to ₹ 25,085.2 crore for the July-September quarter, compared to ₹ 21,868 crore in the corresponding quarter of the previous fiscal.
8. The bank’s total advances in the September quarter stood at ₹ 1,198,837 crore, marking an increase of 15.5 per cent from the year-ago period. Retail loans grew by 12.9 per cent, commercial and rural banking loans grew by 27.6 per cent, and other wholesale loans grew by six per cent.
9. During the quarter, the Reserve Bank of India (RBI) lifted the ban on HDFC Bank’s credit card business. Since then, it has issued more than 4 lakh credit cards, as of September 21, 2021, according to the bank’s statement.
10.On Thursday, October 14, shares of HDFC Bank settled 2.86 per cent higher at ₹ 1,685.90 apiece on the BSE. Ahead of the quarterly results, the bank’s shares rallied on Thursday to touch a 52-week high of ₹ 1,690 during the trading session.