HDFC Announces Quarterly Results (1QFY20); Net Profit Up 46.3%

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HDFC Announces Quarterly Results (1QFY20); Net Profit Up 46.3%
Wed, 14 Aug

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

HDFC Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Operating incomeRs m99,407115,801129,90312.2%30.7%
Other incomeRs m1136558-10.9%-48.6%
Total revenuesRs m99,520115,866129,96112.2%30.6%
InterestRs m63,52772,58677,3936.6%21.8%
Gross Profit Rs m35,75043,07752,21821.2%46.1%
Other expensesRs m5,1637,00412,42577.4%140.6%
Profit before taxRs m30,70036,90939,8518.0%29.8%
TaxRs m8,8008,2937,820-5.7%-11.1%
Profit after taxRs m21,90028,61632,03111.9%46.3%
Gross profit margin %36.037.240.2
Effective tax rate%28.722.519.6
Net profit margin%22.024.724.7
* 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 30.7% on a year-on-year (YoY) basis. The interest expended was up by 21.8% YoY during the same period.
  • The bank's operating profit increased by 46.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 40.2% in 1QFY20 as against 36.0% in 1QFY19.
  • Other income declined by 48.6% YoY during the quarter.
  • Net profit for the quarter increased by 46.3% YoY. Net profit margins during the quarter increased from 22.0% in 1QFY19 to 24.7% in 1QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 12.2% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 6.6% QoQ during the same period.
  • The bank's operating profit increased by 21.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 40.2% in 1QFY20 as against 37.2% in 4QFY19.
  • Net profit for the quarter increased by 11.9% QoQ, while net profit margins declined from 24.7% in 4QFY19 to 24.7% in 1QFY20.

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

HDFC Share Price Performance

Over the last one year,HDFC share price has moved up from Rs 1,941.7 to Rs 2,130.0, registering a Gain of Rs 188.4 or around 9.7%.

Overall, the S&P BSE SENSEX is down 0.7% over the year.

Current Valuations

At the current price of Rs 2,130.0, the price to earnings (P/E) ratio of HDFC stands at 31.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.9 times.

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