HDFC BANK Announces Quarterly Results (2QFY22); Net Profit Up 18.3%

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HDFC BANK Announces Quarterly Results (2QFY22); Net Profit Up 18.3%
Wed, 20 Oct

HDFC BANK has announced its results for the quarter ended September 2021. Here is a detailed performance review of the same:

HDFC BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-20*
3
Jun-21*
3
Sep-21*
QoQ ChangeYoY Change
Operating incomeRs m317,423322,538335,2043.9%5.6%
Other incomeRs m66,96266,79979,15918.5%18.2%
Total revenuesRs m384,385389,336414,3646.4%7.8%
InterestRs m150,332142,185144,1531.4%-4.1%
Gross Profit Rs m167,091180,353191,0525.9%14.3%
Other expensesRs m86,07587,06999,84914.7%16.0%
Profit before taxRs m103,777106,419123,23515.8%18.7%
TaxRs m26,66327,01632,03518.6%20.1%
Profit after taxRs m77,11479,40391,20014.9%18.3%
Gross profit margin %52.655.957.0
Effective tax rate%25.725.426.0
Net profit margin%24.324.627.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The bank's operating income (interest earned) during the quarter grew 5.6% on a year-on-year (YoY) basis. The interest expended was down by 4.1% YoY during the same period.
  • The bank's operating profit increased by 14.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 57.0% in 2QFY22 as against 52.6% in 2QFY21.
  • Other income increased by 18.2% YoY during the quarter.
  • Net profit for the quarter increased by 18.3% YoY. Net profit margins during the quarter increased from 24.3% in 2QFY21 to 27.2% in 2QFY22.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 3.9% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 1.4% QoQ during the same period.
  • The bank's operating profit increased by 5.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 57.0% in 2QFY22 as against 55.9% in 1QFY21.
  • Net profit for the quarter increased by 14.9% QoQ, while net profit margins increased from 24.6% in 1QFY21 to 27.2% in 2QFY22.

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

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HDFC BANK Share Price Performance

Over the last one year, HDFC BANK share price has moved up from Rs 1,224.2 to Rs 1,670.1, registering a Gain of Rs 445.9 or around 36.4%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 45,035.8 (up 0.0%). Over the last one year it has moved up from 27,592.9 to 45,035.8, a gain of 17,443 points (up 63.2%).

Overall, the S&P BSE SENSEX is up 52.1% over the year.

Current Valuations

At the current price of Rs 1,670.1, the price to earnings (P/E) ratio of HDFC BANK stands at 26.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.4 times.

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