HDFC BANK Announces Quarterly Results (1QFY20); Net Profit Up 21.0%

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HDFC BANK Announces Quarterly Results (1QFY20); Net Profit Up 21.0%
Mon, 22 Jul

HDFC BANK has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

HDFC BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Operating incomeRs m225,490263,333273,9164.0%21.5%
Other incomeRs m38,18148,71249,7032.0%30.2%
Total revenuesRs m263,670312,045323,6183.7%22.7%
InterestRs m117,354132,438140,9736.4%20.1%
Gross Profit Rs m108,136130,895132,9431.6%22.9%
Other expensesRs m59,83971,17171,1730.0%18.9%
Profit before taxRs m70,18489,54485,336-4.7%21.6%
TaxRs m24,16930,69329,654-3.4%22.7%
Profit after taxRs m46,01458,85155,682-5.4%21.0%
Gross profit margin %48.049.748.5
Effective tax rate%34.434.334.8
Net profit margin%20.422.320.3
* 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 21.5% on a year-on-year (YoY) basis. The interest expended was up by 20.1% YoY during the same period.
  • The bank's operating profit increased by 22.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 48.5% in 1QFY20 as against 48.0% in 1QFY19.
  • Other income increased by 30.2% YoY during the quarter.
  • Net profit for the quarter increased by 21.0% YoY. Net profit margins during the quarter declined from 20.4% in 1QFY19 to 20.3% in 1QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 4.0% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 6.4% QoQ during the same period.
  • The bank's operating profit declined by 1.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 48.5% in 1QFY20 as against 49.7% in 4QFY19.
  • Net profit for the quarter declined by 5.4% QoQ, while net profit margins declined from 22.3% in 4QFY19 to 20.3% in 1QFY20.

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 2,190.1 to Rs 2,300.0, registering a Gain of Rs 109.9 or around 5.0%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 32,965.3 (down 1.5%). Over the last one year it has moved up from 29,701.2 to 32,965.3, a gain of 3,264 points (up 11.0%).

Overall, the S&P BSE SENSEX is up 4.6% over the year.

Current Valuations

At the current price of Rs 2,300.0, the price to earnings (P/E) ratio of HDFC BANK stands at 26.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.8 times.

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