HDFC Bank's FY01 net up 75% - Views on News from Equitymaster

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HDFC Bank's FY01 net up 75%

Apr 14, 2001

HDFC Bank has recorded a growth of 75% in profits and 85% in interest income for the year ended March '01. However, due to the merger of Times Bank, HDFC Bank's financials are not strictly comparable.

(Rs m) FY00 FY01 Change
Interest Income 6,799 12,595 85.3%
Other Income 1,254 1,855 48.0%
Profit after Tax/(Loss) 1,200 2,101 75.0%
Net profit margin (%) 17.7% 16.7%  
No. of Shares (eoy) (m) 243.3 243.3  
Diluted Earnings per share 4.9 8.6  
P/E (at current price)   27  

The growth pace of the bank slowed down during the fourth quarter of the year. While interest income increased by 41%, net profits grew by 58% in 4QFY01. This was lower than its performance in the last three quarters.

At the current price of Rs 231 HDFC Bank is trading at a P/E of 27 times FY01 earnings. Its Price/Book value ratio of 6 times is comparatively higher than its peers. The bank is planning to raise amount through ADR which will help it in further expanding the size.

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