HDFC Bank Limited Quarter 4 results: Profit jumps up to 37.1% to Rs 16,512 crore, NII up 24.5%

Financial Results

• Private sector largest Bank HDFC Bank revealed a 37.1 percent development in net benefit for the quarter finished 31 March 2024 to Rs 16,512 crore, when contrasted with Rs 12,047 crore during a similar quarter of the earlier year ( before 20204 ).
• Net revenue pay (premium procured less revenue used) for the quarter increased by 24.5 percent to Rs 29,080 crore while core net interest margin(NIMS) was at 3.44 percent on all out Assets, and 3.63 percent in light of revenue acquiring resources.
• Working costs for the quarter finished March 31, 2024, included staff ex gratia arrangement of Rs 1,500 crore.
• Other payor non-interest pay for the quarter dramatically increased to Rs 18,166 crore as against Rs 8,731 crore in the comparing quarter finished Walk 31, 2023. Development in other pay is for the most part because of exchanging and imprint to showcase gain of Rs 7,950 crore when contrasted with a deficiency of Rs 40 crore during a similar time a year ago. In Q4, HDFC Bank finished selling a larger part of its stake in HDFC Credila, the schooling finance auxiliary, for Rs 9,553 crore.
• “The credit climate in the economy stays harmless, and the Bank’s credit execution across all portions keeps on excess sound,” the confidential area moneylender said in an official statement.
• HDFC Bank’s GNPA at 1.24 percent when contrasted with 1.26 percent in the past quarter and 1.12 percent in the final quarter of the past monetary year. The bank has made drifting arrangements of Rs 1,090 crore during the quarter.
• “The Bank has thought about there is any stage this as a perfect stage to improve its drifting arrangements, which are not intended for any portfolio but rather go about as a countercyclical cradle for making the monetary record stronger, and these likewise qualify as Level II Capital inside as far as possible,” it said.
• Arrangements and possibilities, barring the drifting arrangements, for the quarter finished Walk 31, 2024 were Rs 2,610 crore as against Rs 2,690 crore for the quarter finished Walk 31, 2023.
• Our book across all portions is performing solid. It is a lucky stage, when everything is harmless, you ponder countercyclical supports,” said Srinivasan Vaidyanathan CFO of the justification behind drifting arrangement.
• Absolute stores of the bank expanded 26.4 percent year on year with current and investment account stores becoming by 8.7 percent. Casa stores were 38.2 percent of absolute stores. In outright terms stores developed by Rs 1.66 trillion in Jan-Walk time of which retail stores were Rs 1.29 trillion.
• Gross advances expanded by 55.4 percent on a year-on-year premise. In outright terms stores developed by Rs 1.66 trillion in Jan-Walk time of which retail stores were Rs 1.29 trillion. Retail advances increased by 108.9 percent, business, and country banking credits increased by 24.6 percent, and corporate and other discount credits (barring non-individual credits of HDFC Ltd) increased by 4.2 percent.
• The Bank’s all-out Capital Sufficiency Proportion (Vehicle) according to Basel III rules was at 18.8 percent as on Walk 31, 2024 (19.3 percent as on Walk 31, 2023) as against an administrative prerequisite of 11.7 percent.

HDFC Bank announces dividend ₹19.50 per value share

In a stock trade document, HDFC Bank said: “… we are satisfied to illuminate that the Board regarding Chiefs, at its gathering held today, has suggested a profit of Rs. 19.50 per value portion of Re. 1/ – each completely settled up (for example 1950 %) out of the net benefits for the year finished Walk 31, 2024, dependent upon the endorsement of the investors at the resulting Yearly Regular gathering (“AGM”) of the Bank.”

SUGGESTION

If you want to take benefit of HDFC Bank’s limited dividend scheme then you make positions in HDFC with the suggestion of a financial advisor and always manage the risks. you shouldn’t invest all the money in one particular stock.

EX-RECORD DATE DIVIDEND
10 MAY 2024