In the last December 2022 quarter, HDFC Bank reported an 18.50 per cent jump in its standalone net profit at Rs 12,259 crore.
HDFC Bank Q4 Results: The lender is likely to report a strong double-digit growth of around 22 per cent in net profit amid healthy loan growth and improved business.
India’s largest private sector lender HDFC Bank is set to release its financial results for the January-March 2023 quarter on Saturday, April 15, ushering in the fourth quarter FY23 earnings season for the banking sector . According to analysts, the bank is likely to post a strong double-digit performance. Around 22 per cent growth in net profit amid healthy loan growth and improved business.
Brokerage firm Prabhudas Lilladher expects HDFC Bank Q4 net profit to rise 21.8 per cent to Rs 12,245.4 crore. Its net interest income (NII) is expected to grow 32.5 per cent YoY (8.8 per cent QoQ) to Rs 24,999.9 crore.
Another brokerage Elara Securities expects HDFC Bank to report a 24.4 per cent rise in profit at Rs 12,507 crore in the March quarter as against Rs 10,055 crore in the same quarter last year. Net interest income has increased by 28.2 per cent to Rs 24,204 crore from Rs 18,872 crore.
It said, “As reported in the provisional update, business momentum has strengthened with loan growth of 16.9 per cent YoY and 6.2 per cent QoQ. Deposit growth of 20.8 per cent YoY and 8.7 per cent QoQ exceeded our estimates. We haven’t aligned the numbers reported so far to show outperformance.”
Emkay Global expects NIM for the quarter to come down 5 basis points QoQ to 4.3 per cent. It expects HDFC Bank to report healthy profitability, “led by healthy NII growth/vested provisions. Lower stress from agriculture portfolio expected to decline on QoQ basis”, it said, adding profit for the quarter at Rs 12,037 crore It is expected to come in at Rs. 19.7 percent YoY.
In the last December 2022 quarter, HDFC Bank reported an 18.50 per cent jump in its standalone net profit at Rs 12,259 crore. On a consolidated basis, the largest private sector bank’s net profit rose 19.9 per cent to Rs 12,698 crore for the quarter ended December 31, 2021, according to a BSE filing.
Its net interest income (net interest expense) for the December 2022 quarter grew by 24.6 per cent to about Rs 22,987.8 crore from Rs 18,443.5 crore for the quarter ended December 31, 2021. Net assets, and 4.3 percent based on interest income assets.
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