HDFC Announces Quarterly Results (4QFY21); Net Profit Up 37.7%

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HDFC Announces Quarterly Results (4QFY21); Net Profit Up 37.7%
Thu, 8 Jul

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

HDFC Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-20*
3
Dec-20*
3
Mar-21*
QoQ ChangeYoY Change
Operating incomeRs m166,001392,591357,384-9.0%115.3%
Other incomeRs m3198515581.4%-51.5%
Total revenuesRs m166,320392,676357,539-8.9%115.0%
InterestRs m78,00469,54566,660-4.1%-14.5%
Gross Profit Rs m87,154322,141289,832-10.0%232.6%
Other expensesRs m54,141271,720242,124-10.9%347.2%
Profit before taxRs m33,33250,50647,863-5.2%43.6%
TaxRs m6,09410,86510,349-4.8%69.8%
Profit after taxRs m27,23939,64037,514-5.4%37.7%
Gross profit margin %52.582.181.1
Effective tax rate%18.321.521.6
Net profit margin%16.410.110.5
* 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 115.3% on a year-on-year (YoY) basis. The interest expended was down by 14.5% YoY during the same period.
  • The bank's operating profit increased by 232.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 81.1% in 4QFY21 as against 52.5% in 4QFY20.
  • Other income declined by 51.5% YoY during the quarter.
  • Net profit for the quarter increased by 37.7% YoY. Net profit margins during the quarter declined from 16.4% in 4QFY20 to 10.5% in 4QFY21.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 9.0% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 4.1% QoQ during the same period.
  • The bank's operating profit declined by 10.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 81.1% in 4QFY21 as against 82.1% in 3QFY20.
  • Net profit for the quarter declined by 5.4% QoQ, while net profit margins increased from 10.1% in 3QFY20 to 10.5% in 4QFY21.

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

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HDFC Share Price Performance

Over the last one year, HDFC share price has moved up from Rs 1,884.6 to Rs 2,518.3, registering a Gain of Rs 633.7 or around 33.6%.

Overall, the S&P BSE SENSEX is up 43.9% over the year.

Current Valuations

At the current price of Rs 2,518.3, the price to earnings (P/E) ratio of HDFC stands at 33.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.6 times.

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