HDFC Bank (HDB)2024-04-22 11:29Financial Performance - HDFC Bank's total income for the quarter ended March 31, 2024, was ₹89,639 crore, a 66.5% increase from ₹53,851 crore in the same quarter last year[5]. - The net profit for the same quarter was ₹16,512 crore, up 37.2% from ₹12,047 crore year-over-year[5]. - Interest earned increased to ₹71,473 crore for the quarter, compared to ₹45,119 crore in the same quarter last year, reflecting a growth of 58.5%[5]. - Operating profit before provisions and contingencies was ₹29,274 crore, an increase of 57.1% from ₹18,621 crore in the same quarter last year[5]. - The company reported a profit before tax of ₹70,895.3 million, reflecting a significant increase compared to the previous period[2]. - The consolidated profit after tax for the quarter ended March 31, 2024, was ₹176.2 billion, up 39.9% compared to ₹126.0 billion for the quarter ended March 31, 2023[36]. - The net profit for the quarter was ₹17,622.38 crore, up from ₹12,594.47 crore in the same quarter last year, reflecting a year-over-year increase of 40.1%[22]. Asset and Liability Management - The bank's capital adequacy ratio stood at 18.80%, slightly up from 18.39% in the previous quarter[5]. - Gross non-performing assets (NPAs) were reported at ₹31,173 crore, with a gross NPA ratio of 1.24%[5]. - The total assets of the company stood at ₹3,617,623.0 million, showcasing a robust financial position[1]. - The total liabilities of the company were ₹3,617,623.0 million, maintaining a balanced capital structure[1]. - The bank's total assets as of March 31, 2024, were ₹4,030,194.26 crore, compared to ₹2,530,432.44 crore a year earlier, representing a growth of 59.3%[23]. - The total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 18.8% as of March 31, 2024, above the regulatory requirement of 11.7%[50]. Revenue Segments - Retail banking segment revenue reached ₹65,065 crore for the quarter, compared to ₹40,161 crore in the same quarter last year, marking a growth of 62.1%[7]. - The treasury segment reported a revenue of ₹20,553 crore, significantly up from ₹9,483 crore year-over-year[7]. - The insurance business segment generated a revenue of ₹31,001.94 crore for the quarter, with a year-over-year increase as it was not reported in the previous year[23]. - The Treasury segment reported a revenue of ₹20,553.30 crore for the quarter, compared to ₹9,482.54 crore in the same quarter last year, an increase of 116.4%[23]. Cash Flow and Investments - The company reported a net cash flow from operating activities of 709.4 million, indicating a strong investment strategy[4]. - The company made investments totaling ₹702,414.9 million, indicating a focus on growth and expansion[1]. - The company’s investments increased to ₹1,005,681.63 crore as of March 31, 2024, compared to ₹511,581.71 crore in the previous year, showing a growth of 96.6%[1]. Shareholder Returns - HDFC Bank's diluted earnings per share (EPS) for the quarter was ₹21.67, compared to ₹21.49 in the previous quarter[5]. - A proposed dividend of ₹19.50 per share was announced, up from ₹19.00 per share in the previous year, subject to approval at the Annual General Meeting[13]. - The company paid dividends during the period totaling $840.4 million, maintaining a strong return to shareholders[7]. - The Board proposed a dividend of ₹19.50 per share for the year, up from ₹19.00 per share in the previous year, subject to approval at the Annual General Meeting[29]. Strategic Initiatives and Future Outlook - The company plans to enhance its market presence through strategic investments and potential acquisitions in the upcoming quarters[2]. - Future guidance indicates a focus on increasing operational efficiency and exploring new market opportunities[2]. - HDFC Bank is focused on technological changes and the marketing of new products as part of its strategic initiatives[62]. - The bank is also monitoring the impact of regulatory changes and economic conditions on its operations and financial performance[62]. Operational Metrics - The Bank's distribution network expanded to 8,738 branches and 20,938 ATMs across 4,065 cities/towns as of March 31, 2024, compared to 7,821 branches and 19,727 ATMs as of March 31, 2023[52]. - The Bank's gross non-performing assets (GNPA) ratio improved to 1.24% as of March 31, 2024, compared to 1.12% as of March 31, 2023[53]. - The Bank's deposits increased to ₹2,376,887.28 crore as of March 31, 2024, compared to ₹1,882,663.25 crore a year earlier, reflecting a growth of 26.3%[1].