HDFC BANK Announces Quarterly Results (4QFY19); Net Profit Up 22.6%

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HDFC BANK Announces Quarterly Results (4QFY19); Net Profit Up 22.6%
Mon, 22 Apr

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

HDFC BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m213,211258,903263,3331.7%23.5%
Other incomeRs m42,28649,21048,712-1.0%15.2%
Total revenuesRs m255,497308,113312,0451.3%22.1%
InterestRs m106,634133,135132,438-0.5%24.2%
Gross Profit Rs m106,577125,768130,8954.1%22.8%
Other expensesRs m60,50667,19371,1715.9%17.6%
Profit before taxRs m72,94685,66989,5444.5%22.8%
TaxRs m24,95329,81030,6933.0%23.0%
Profit after taxRs m47,99355,85958,8515.4%22.6%
Gross profit margin %50.048.649.7
Effective tax rate%34.234.834.3
Net profit margin%22.521.622.3
* 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 23.5% on a year-on-year (YoY) basis. The interest expended was up by 24.2% YoY during the same period.
  • The bank's operating profit increased by 22.8% YoY during the quarter. Consequently, operating profit margins remained same and stood at 49.7% in 4QFY19.
  • Other income increased by 15.2% YoY during the quarter.
  • Net profit for the quarter increased by 22.6% YoY. Net profit margins during the quarter declined from 22.5% in 4QFY18 to 22.3% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 1.7% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 0.5% QoQ during the same period.
  • The bank's operating profit increased by 4.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 49.7% in 4QFY19 as against 48.6% in 3QFY18.
  • Net profit for the quarter increased by 5.4% QoQ, while net profit margins increased from 21.6% in 3QFY18 to 22.3% in 4QFY19.

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 1,961.0 to Rs 2,285.0, registering a Gain of Rs 324.1 or around 16.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 33,541.3 (down 1.4%). Over the last one year it has moved up from 27,855.4 to 33,541.3, a gain of 5,686 points (up 20.4%).

Overall, the S&P BSE SENSEX is up 13.1% over the year.

Current Valuations

At the current price of Rs 2,285.0, the price to earnings (P/E) ratio of HDFC BANK stands at 27.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.3 times.

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