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HDFC BANK Announces Quarterly Results (1QFY19); Net Profit Up 18.2%

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HDFC BANK Announces Quarterly Results (1QFY19); Net Profit Up 18.2%
Wed, 25 Jul

HDFC BANK has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

HDFC BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Operating incomeRs m186,687213,211225,4905.8%20.8%
Other incomeRs m35,16742,28638,181-9.7%8.6%
Total revenuesRs m221,854255,497263,6703.2%18.8%
InterestRs m92,980106,634117,35410.1%26.2%
Gross Profit Rs m93,707106,577108,1361.5%15.4%
Other expensesRs m53,67560,50659,839-1.1%11.5%
Profit before taxRs m59,61272,94670,184-3.8%17.7%
TaxRs m20,67324,95324,169-3.1%16.9%
Profit after taxRs m38,93847,99346,014-4.1%18.2%
Gross profit margin %50.250.048.0
Effective tax rate%34.734.234.4
Net profit margin%20.922.520.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The bank's operating income (interest earned) during the quarter grew 20.8% on a year-on-year (YoY) basis. The interest expended was up by 26.2% YoY during the same period.
  • The bank's operating profit increased by 15.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 48.0% in 1QFY19 as against 50.2% in 1QFY18.
  • Other income increased by 8.6% YoY during the quarter.
  • Net profit for the quarter increased by 18.2% YoY. Net profit margins during the quarter declined from 20.9% in 1QFY18 to 20.4% in 1QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 5.8% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 10.1% QoQ during the same period.
  • The bank's operating profit declined by 1.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 48.0% in 1QFY19 as against 50.0% in 4QFY18.
  • Net profit for the quarter declined by 4.1% QoQ, while net profit margins declined from 22.5% in 4QFY18 to 20.4% in 1QFY19.

To see how HDFC BANK has performed over the last eight quarters, please visit here.

HDFC BANK Share Price Performance

Over the last one year, HDFC BANK share price has moved up from Rs 1,739.4 to Rs 2,165.5, registering a Gain of Rs 426.2 or around 24.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 29,915.0 (down 0.1%). Over the last one year it has moved up from 27,757.0 to 29,915.0, a gain of 2,158 points (up 7.8%).

Overall, the S&P BSE SENSEX is up 0.0% over the year.

Current Valuations

At the current price of Rs 2,165.5, the price to earnings (P/E) ratio of HDFC BANK stands at 30.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.0 times.

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