Equity

Corporate Results

HDFC Bank
(21-Apr-2017, 18:44 Hours IST)  
HDFC Bank registered 13% rise in Interest income to Rs 18114.40 crore in the quarter ended March 2017. A 6% rise in interest expenses to Rs 9059.3 crore saw net interest income (NII) grow 21% to Rs 9055.10 crore.

Other income grew 20% to Rs 3446.26 crore, which took net total income up 21% to Rs 12501.36 crore.

Operating expenses increased 14% to Rs 5221.96 crore, after which OP grew 27% to Rs 7279.40 crore.

Provision and contingencies were up 90% to Rs 1261.80 crore after which PBT grew 19% to Rs 6017.60 crore.

As tax expenses grew 19% to Rs 2027.51 crore, net profit increased 18% to Rs 3990.09 crore.

FY 2017 results

In FY 2017, HDFC Bank registered 15% rise in Interest income to Rs 69305.96 crore. A 11% rise in interest expenses to Rs 36166.74 crore saw net interest income (NII) grow 20% to Rs 33139.22 crore.

Other income grew 14% to Rs 12296.49 crore, which took net total income up 18% to Rs 45435.71 crore.

Operating expenses increased 16% to Rs 19703.32 crore, after which OP grew 20% to Rs 25732.39 crore.

Provision and contingencies were up 32% to Rs 3593.90 crore after which PBT grew 19% to Rs 22139.09 crore.

As tax expenses grew 20% to Rs 7589.43 crore, net profit increased 18% to Rs 14549.66 crore.

Consolidated results

The consolidated net profit for the year ended March 2017 was Rs 15253.0 crore, up 19.2%. Consolidated advances grew 20.2% from Rs 487290 crore as on March 2016 to Rs 585,481 crore as on March 2017.

HDFC Securities Limited (HSL) is amongst the leading retail broking firms in India. As on March 31, 2017, the Bank held a 97.91% stake in HSL.

In FY 2017, HSL's total income grew 37.7% to Rs 553.2 crore. Net profit grew 62% to Rs 215.9 crore.

HDB Financial Services Limited (HDBFS) net interest income grew 41% to Rs 2037.2 crore. Net grew 28% to Rs 684.2 crore.

HDFC Bank holds 96.20% stake in HDBFS.

Asset Quality

Gross NPA stood at Rs 5885.66 crore as of March 2017 quarter against Rs 5232.27 crore in December 2016 quarter and Rs 4392.83 crore as of March 2016 quarter.

In percentage terms, %GNPA stood at 1.05% as of March 2017 quarter against 1.05% in December 2016 quarter and 0.94% as of March 2016 quarter.

Net NPA stood at Rs 1843.99 crore as of March 2017 quarter against Rs 1564.32 crore in December 2016 quarter and Rs 1320.37 crore as of March 2016 quarter.

In percentage terms, %NNPA stood at 0.33% as of March 2017 quarter against 0.32% in December 2016 quarter and 0.28% as of March 2016 quarter.

Capital Adequacy ratio

The Bank's total Capital Adequacy Ratio (CAR) as per Basel III guidelines, was at 14.6% as at March 2017 (15.5% as at March 2016) as against a regulatory requirement of 10.25% including Capital Conservation Buffer of 1.25%.

Tier-I CAR was at 12.8% as on March 31, 2017 compared to 13.2% as at March 31, 2016. Risk-weighted Assets were at Rs 640,030 crore (Rs 529,768 crore as at March 2016).

Book Value

Book Value per share stands at Rs 349.10 per share at end March 2017.

Adjusted Book value (adjusting for NNPA and 10% of restructured advances) stood at Rs 341.7 per share at end March 2017.

Valuation

The share price trades at Rs 1496.

HDFC Bank: Results

 

1703 (3)1603 (3)Var. (%)1703 (12)1603 (12)Var. (%)
Int. Earned18114.415996.751369305.9660221.4515
Int. Exp.9059.38543.41636166.7432629.9311
Net Int. Inc.9055.17453.342133139.2227591.5220
Other Inc.3446.262865.862012296.4910751.7214
Net Total Inc.12501.3610319.22145435.7138343.2418
Op. Exp.5221.964584.291419703.3216979.6916
OP7279.45734.912725732.3921363.5520
Prov. & Cont.1261.8662.45903593.32725.6132
PBT6017.65072.461922139.0918637.9419
Tax2027.511698.24197589.436341.7120
Net Profit3990.093374.221814549.6612296.2318
EPS*(Rs)62.352.756.848.0
* Paid up equity capital is Rs 512.51 crore, Face value Rs 2
Figures in crore
Source: Capitaline Databases

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