HDFC BANK Announces Quarterly Results (3QFY20); Net Profit Up 32.8%

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HDFC BANK Announces Quarterly Results (3QFY20); Net Profit Up 32.8%
Tue, 21 Jan

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

HDFC BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Operating incomeRs m258,903281,663293,6974.3%13.4%
Other incomeRs m49,21055,88766,69319.3%35.5%
Total revenuesRs m308,113337,550360,3906.8%17.0%
InterestRs m133,135146,512151,9683.7%14.1%
Gross Profit Rs m125,768135,150141,7294.9%12.7%
Other expensesRs m67,19374,05778,9686.6%17.5%
Profit before taxRs m85,66989,97499,01910.1%15.6%
TaxRs m29,81026,52424,854-6.3%-16.6%
Profit after taxRs m55,85963,45074,16516.9%32.8%
Gross profit margin %48.648.048.3
Effective tax rate%34.829.525.1
Net profit margin%21.622.525.3
* 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 13.4% on a year-on-year (YoY) basis. The interest expended was up by 14.1% YoY during the same period.
  • The bank's operating profit increased by 12.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 48.3% in 3QFY20 as against 48.6% in 3QFY19.
  • Other income increased by 35.5% YoY during the quarter.
  • Net profit for the quarter increased by 32.8% YoY. Net profit margins during the quarter increased from 21.6% in 3QFY19 to 25.3% in 3QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 4.3% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 3.7% QoQ during the same period.
  • The bank's operating profit increased by 4.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 48.3% in 3QFY20 as against 48.0% in 2QFY19.
  • Net profit for the quarter increased by 16.9% QoQ, while net profit margins increased from 22.5% in 2QFY19 to 25.3% in 3QFY20.

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 1,073.3 to Rs 1,248.4, registering a Gain of Rs 175.1 or around 16.3%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 35,530.9 (up 0.3%). Over the last one year it has moved up from 30,770.4 to 35,530.9, a gain of 4,760 points (up 15.5%).

Overall, the S&P BSE SENSEX is up 13.5% over the year.

Current Valuations

At the current price of Rs 1,248.4, the price to earnings (P/E) ratio of HDFC BANK stands at 27.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.4 times.

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