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Private lending giant HDFC Bank has published its results for the quarter ended in March 2023 wherein the company has reported a 30% growth in the topline while the same was 20% in the bottom line.
For the quarter ended in March 2023, the bank’s total income came in at Rs 57,158.84 crores, up 30% YoY and up 5.6% on a sequential basis. The Net Interest Income of the bank, which is the difference between interest earned and paid, came in at Rs 23,351.8 crores, growing 23.7% YoY.
Profit for the quarter stood at Rs 12,595 crores, growing 20.6% YoY but marginally down on a sequential basis. Such growth in quarterly profit was assisted by the lower provisioning made by the bank, down to Rs 2,685.4 crores from Rs 3,314 crores reported last year.
For the period of 12 months ended on 31st March 2023, the bank had a total income of Rs 204,666.10 crores, up 22% from Rs 167,695.40 crores reported last year. The Treasury segment of the bank had a poor performance during the year as its revenues declined annually. However, Retail and Wholesale Banking were the highest-performing segments of the bank as their revenues grew 23% and 38% respectively.
Profit for the quarter stood at Rs 45,997.11 crores, growing 20.8% YoY. This translates to an EPS of Rs 82.64 per share, significantly higher than the figures reported last year.
The bank had advances worth Rs 1,600,586 crores at year-end, up 17% YoY as those of commercial and rural nature registered higher growth than retail advances. Total deposits for the quarter stood at Rs 1,883,395 crores, surging 20.8% YoY. Asset quality saw marginal improvement as GNPA and NNPA stood at 1.12% and 0.27% at the year's end.
The share of CASA ratios declined during the year as growth in the same declined to 11.3%. Total CASA deposits were 445 of all deposits. As a result, the Net Interest Margin saw a marginal increase and grew to 4.1%. Its yield on assets grew to 7.9% while its Capital Adequacy Ratio was 19.3%.
Alongside the announcement of the results, the company has also announced a dividend of Rs 19 per share. Rs 4.5 higher than last year. The stock of HDFC Bank closed at Rs 1,692.45 per share on Thursday.
-Aman Agarwal.
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