HDFC Bank Q4 Results Review - Inline Numbers With Focus On Profitability Intact: Systematix

We remain enthused about the medium-term prospects for the bank and view the quarterly results as signposts towards building a truly pan India presence.

HDFC Bank branch (Source: Vijay Sartape/NDTV Profit)

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Systematix Research Report

HDFCB Bank Ltd. reported earnings of Rs 165 billion (+1% QoQ, +37% YoY), inline with estimates. Factoring the provisional update on headline numbers reported at the start of April 2024 and the management’s preference for profitability versus growth, the key focus area of the result was on the margin performance.

In this respect, HDFC Bank reported core net interest margin of 3.44% which was largely stable QoQ and in-line with expectations. The bank also utilised the one-off gain of Rs 73.4 billion from the sale of Credila along with tax reversals of Rs 38.2 billion to create counter-cyclical floating provisions of Rs 109 billion (qualified as tier-II capital).

Overall a good result reflecting progress in line with the recent management commentary and provisional numbers.

Click on the attachment to read the full report:

Systematix - HDFC Bank - Q4 FY24 Results Update.pdf
Read Document

Also Read: HDFC Bank Q4 Results: Net Profit Flat, Provisions Surge Three Times

DISCLAIMER 

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit. 

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

lock-gif
To continue reading this story
Subscribe to Unlock & Enjoy your
Subscriber-Only benefits
Still Not convinced ?  Know More
Watch LIVE TV , Get Stock Market Updates, Top Business , IPO and Latest News on NDTV Profit.
GET REGULAR UPDATES