HDFC Bank Q4FY17 standalone net profit rises 18.2% yoy : Beats Estimates

India Infoline Research Team | April 21, 2017 13:32 IST

Gross NPA’s for the period recorded 34% yoy jump to Rs. 5885.6 crore. Asset quality measured in terms of gross NPA as a percentage of gross advances worsened slightly to 1.05% as against 0.94% in Q4FY16.

HDFC Bank Ltd Q4FY17

Standalone Results Q4FY17: (Rs. in crore)

Q4FY17 YoY (%)
NII 9,055 21.5
NPA (%) 1.05 11
Provisions 1,261 90.5
Net Profit (adjusted) 3,990 18.3
***NPA change is bps

HDFC Bank
HDFC Bank the second largest bank in India, reported its Q4FY17 results earlier today. The bank’s results registered a beat on the street’s estimates in terms of NII which came in 4.3% higher than the estimated figure of Rs. 8684 crore. Net profit came in line with the estimated figure of Rs. 3967 crore.

HDFC Bank’s Q4FY17 standalone NII for the period came in at Rs. 9055 crore showing a 21.5% yoy growth.

Gross NPA’s for the period recorded 34% yoy jump to Rs. 5885.6 crore. Asset quality measured in terms of gross NPA as a percentage of gross advances worsened slightly to 1.05% as against 0.94% in Q4FY16.

Provisions for bad loans made during the quarter increased 90.5% yoy to Rs.1261 crore.

Net profit for Q4FY17 increased by 18.3% yoy to Rs. 3990 crore.

Total deposits grew by 18% yoy to Rs. 643639.6 crore and advances grew by 19% yoy to Rs.554568 crore in FY17,while 
.CASA ratio for the quarter stood at 48% in Q4FY17.
 
The bank’s capital adequacy ratio as per Basel-III guidelines stands at 14.6% vs 15.5% in the last year.


Looking at full year numbers HDFC bank’s NII grew by 20% to Rs.33139.1 crore vs Rs.27951 crore in FY16. While net profit for the year grew by 18% yoy to Rs.14549.6 crore.In terms of asset quality GNPA's for the year also detoriorated to 1.05% in FY17 vs 0.94% FY16.

Bank also declared dividend of Rs.11 per share of face value of Rs.2 per share.

Technical View:

HDFC Bank Ltd is currently trading at Rs. 1467.75, up by 5.8 points or 0.4% from its previous closing of Rs. 1461.95 on the BSE.
The scrip opened at Rs. 1474.8 and has touched a high and low of Rs. 1474.8 and Rs. 1455.1 respectively. So far 1308729(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.

BSE 1,667.90 [10.65] ([0.63]%)

***Note: This is a NSE Chart

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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