HDFC BANK Announces Quarterly Results (4QFY20); Net Profit Up 17.7%

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HDFC BANK Announces Quarterly Results (4QFY20); Net Profit Up 17.7%
Tue, 21 Apr

HDFC BANK has announced its results for the quarter ended March 2020. Here is a detailed performance review of the same:

HDFC BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Operating incomeRs m263,333293,697298,8511.8%13.5%
Other incomeRs m48,71266,69360,326-9.5%23.8%
Total revenuesRs m312,045360,390359,176-0.3%15.1%
InterestRs m132,438151,968146,810-3.4%10.9%
Gross Profit Rs m130,895141,729152,0417.3%16.2%
Other expensesRs m71,17178,96882,7784.8%16.3%
Profit before taxRs m89,54499,01991,743-7.3%2.5%
TaxRs m30,69324,85422,466-9.6%-26.8%
Profit after taxRs m58,85174,16569,277-6.6%17.7%
Gross profit margin %49.748.350.9
Effective tax rate%34.325.124.5
Net profit margin%22.325.323.2
* 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 13.5% on a year-on-year (YoY) basis. The interest expended was up by 10.9% YoY during the same period.
  • The bank's operating profit increased by 16.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 50.9% in 4QFY20 as against 49.7% in 4QFY19.
  • Other income increased by 23.8% YoY during the quarter.
  • Net profit for the quarter increased by 17.7% YoY. Net profit margins during the quarter increased from 22.3% in 4QFY19 to 23.2% in 4QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 1.8% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 3.4% QoQ during the same period.
  • The bank's operating profit increased by 7.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 50.9% in 4QFY20 as against 48.3% in 3QFY19.
  • Net profit for the quarter declined by 6.6% QoQ, while net profit margins declined from 25.3% in 3QFY19 to 23.2% in 4QFY20.

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 down from Rs 1,145.1 to Rs 927.0, registering a Loss of Rs 218.1 or around 19.0%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 22,475.7 (down 4.0%). Over the last one year it has moved down from 34,020.5 to 22,475.7, a loss of 11,545 points (down 33.9%).

Overall, the S&P BSE SENSEX is down 20.3% over the year.

Current Valuations

At the current price of Rs 927.0, the price to earnings (P/E) ratio of HDFC BANK stands at 19.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.3 times.

Equitymaster requests your view! Post a comment on "HDFC BANK Announces Quarterly Results (4QFY20); Net Profit Up 17.7%". Click here!

1 Responses to "HDFC BANK Announces Quarterly Results (4QFY20); Net Profit Up 17.7%"

parimal shah

May 9, 2020

For a bank or NBFC to be considered for investment what should be the PB/V and P/E multiple?
-Parimal

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Equitymaster requests your view! Post a comment on "HDFC BANK Announces Quarterly Results (4QFY20); Net Profit Up 17.7%". Click here!

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