HDFC Bank Q3 Results Live Updates: HDFC Bank announced its October-December quarter results for fiscal 2023-24 (Q3FY24) today, January 16. India’s largest private sector lender reported a growth of 33 per cent in net profit at ₹16,372 crore, compared to ₹12, 259 crore in the year-ago period. HDFC Bank’s net interest income came in at ₹28,470 crore in the December quarter, reporting a growth of 24 per cent year-on-year.
HDFC Bank share price has gained over nine per cent in the past three months and just over 5.5 per cent in one year. This is against Nifty 50’s 12 per cent rally in three months and more than 23 per cent surge in one year. Meanwhile, Bank Nifty has risen over nine per cent in three months and 14.5 per cent in one year. Stay tuned to our HDFC Bank Q3 results live blog for the latest updates:
The bank’s gross non-performing assets (NPA) stood at 1.26 percent, up from 1.23 per cent last year. On the other hand, net NPA for the quarter stood at 0.31 per cent compared to 0.33 percent last year.
HDFC Bank Q3 Results Live: NII up 24% YoY
HDFC Bank’s net interest income (NII) came in at ₹28,470 crore in the December quarter, which increased by 24 per cent, compared to ₹22,990 crore reported in the corresponding quarter of the previous fiscal.
HDFC Bank Q3 Results Live: Net profit up 33% to ₹16,372 crore
HDFC Bank’s net profit rose 33 per cent to ₹16,372 crore in the October-December quarter. The bank’s net interest income came in at ₹28,470 crore in the December quarter, reporting a growth of 24 per cent year-on-year.
HDFC Bank Q3 Results Live: Stock settles higher ahead of Q3 results
On Tuesday, shares of HDFC Bank settled 0.42 per cent higher at ₹1,678.95 apiece on the BSE, ahead of the announcement of Q3FY24 results.
HDFC Bank Q3 Results Live: Stock turns positive ahead of Q3 results
HDFC Bank Q3 Results Live: HDFC Bank shares turned positive ahead of Q3FY24 results. HDFC Bank shares were last up 0.43 per cent higher at ₹1,679.10 apiece on the BSE.
HDFC Bank Q3 Results Live: Expect healthy return ratios aided by robust growth visibility: Shreyansh Shah of StoxBox
HDFC Bank Q3 Results Live: HDFC Bank is expected to have strong business growth due to increased branches and effective execution from the sales team, which was aided by the festive season. Deposits are likely to witness healthy growth in Q3FY24 due to attractive interest rates and increased mobilisation of term deposits (TDs). However, its CASA may have a marginal impact due to increased traction in the TDs. NIMs are likely to be range-bound between 3.4% and 3.6% due to the high cost of funds, said Shreyansh Shah, a research analyst at StoxBox.
We expect an improvement in profitability and return ratios due to increasing disbursements, mainly to construction finance. As HDFC Bank has taken care of the non-retail book of erstwhile HDFC Ltd. in the previous quarter itself, we do not foresee further run down in asset quality in the current as well as upcoming quarters, said Shah.
Going ahead, Shah expects the bank to have a healthy liquidity coverage ratio due to the merger effect, with return ratios aided by robust growth visibility in the top line from various loan segments. Additionally, a better mix of loan originations, particularly focused on the retail shift, would help the bank to outperform its peers in the industry.
HDFC Bank Q3 Results Live: Slippages likely to rise 12.8% QoQ
HDFC Bank Q3 Results Live: HDFC Bank’s slippages during the quarter ended December 2023 are expected to rise 12.8% to ₹8,800 crore from ₹7,800 crore in the September quarter, according to Phillip Capital. Net interest margin (NIM) are likely to decline sequentially to 3.32% due to rise in cost of deposit.