HDFC Bank Ltd Q2FY18
Standalone Results Q2FY18: (Rs. in crore)
|Net Profit (adjusted)||4,151||20|
NII for the quarter registered 20.8% yoy rise to Rs.9652 crore in Q2FY18 vs Rs.7992 crore in previous year corresponding quarter. This was largely driven by 15% yoy rise in interest income Rs.19570 crore vs Rs.17069 crore in Q2FY17.
Asset quality of the bank remained stable as GNPA as percentage of total advances rose by 24 bps to 1.26% in Q2FY18 vs 1.02% in Q2FY17. Also, net NPA’s for the quarter rose by 13 bps to 0.44% in Q2FY18 vs 0.30% in Q2FY17. However, total GNPA’s for the quarter rose substantially by 52% yoy to Rs.7702 crore vs Rs.5069 crore in Q2FY17.
Provisions for the quarter almost doubled to Rs.1476 crore vs Rs.748 crore in previous year corresponding quarter. However, net profit for the quarter saw 20% yoy increase to Rs.4151 crore vs Rs.3455 crore in Q2FY17.
Advances and deposits rose by 22% & 16% yoy respectively for the quarter to Rs.604866 crore & Rs.689345 crore. The advances growth was largely aided by 21.6% rise in retail loans and 23.6% rise in wholesale loans.
HDFC Bank Ltd is currently trading at Rs. 1,859.05, down by 3.6 points or 0.19% from its previous closing of Rs. 1,862.65 on the BSE.
The scrip opened at Rs. 1,868.35 and has touched a high and low of Rs. 1,876.95 and Rs. 1,854 respectively. So far 17,01,673(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.
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