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- HDFC BANK Announces Quarterly Results (2QFY20); Net Profit Up 26.8%
HDFC BANK Announces Quarterly Results (2QFY20); Net Profit Up 26.8%
Wed, 23 Oct
HDFC BANK has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:
HDFC BANK Quarterly Financials
| No. of Mths Qtr. Ending | 3 Sep-18* | 3 Jun-19* | 3 Sep-19* | QoQ Change | YoY Change | |
|---|---|---|---|---|---|---|
| Operating income | Rs m | 241,996 | 273,916 | 281,663 | 2.8% | 16.4% |
| Other income | Rs m | 40,156 | 49,703 | 55,887 | 12.4% | 39.2% |
| Total revenues | Rs m | 282,152 | 323,618 | 337,550 | 4.3% | 19.6% |
| Interest | Rs m | 124,362 | 140,973 | 146,512 | 3.9% | 17.8% |
| Gross Profit | Rs m | 117,634 | 132,943 | 135,150 | 1.7% | 14.9% |
| Other expenses | Rs m | 62,991 | 71,173 | 74,057 | 4.1% | 17.6% |
| Profit before tax | Rs m | 76,600 | 85,336 | 89,974 | 5.4% | 17.5% |
| Tax | Rs m | 26,543 | 29,654 | 26,524 | -10.6% | -0.1% |
| Profit after tax | Rs m | 50,057 | 55,682 | 63,450 | 14.0% | 26.8% |
| Gross profit margin | % | 48.6 | 48.5 | 48.0 | ||
| Effective tax rate | % | 34.7 | 34.8 | 29.5 | ||
| Net profit margin | % | 20.7 | 20.3 | 22.5 |
Interim results exclude extraordinary / exceptional items
Year-on-Year Performance:
- The bank's operating income (interest earned) during the quarter grew 16.4% on a year-on-year (YoY) basis. The interest expended was up by 17.8% YoY during the same period.
- The bank's operating profit increased by 14.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 48.0% in 2QFY20 as against 48.6% in 2QFY19.
- Other income increased by 39.2% YoY during the quarter.
- Net profit for the quarter increased by 26.8% YoY. Net profit margins during the quarter increased from 20.7% in 2QFY19 to 22.5% in 2QFY20.
Quarter-on-Quarter Performance:
- The bank's operating income (interest earned) during the quarter grew 2.8% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 3.9% QoQ during the same period.
- The bank's operating profit increased by 1.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 48.0% in 2QFY20 as against 48.5% in 1QFY19.
- Net profit for the quarter increased by 14.0% QoQ, while net profit margins increased from 20.3% in 1QFY19 to 22.5% in 2QFY20.
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 992.5 to Rs 1,248.0, registering a Gain of Rs 255.5 or around 25.7%.
Meanwhile, the S&P BSE BANKEX is trading at Rs 33,420.5 (up 0.5%). Over the last one year it has moved up from 27,899.6 to 33,420.5, a gain of 5,521 points (up 19.8%).
Overall, the S&P BSE SENSEX is up 14.5% over the year.
Current Valuations
At the current price of Rs 1,248.0, the price to earnings (P/E) ratio of HDFC BANK stands at 29.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.4 times.
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