HDFC Bank asset quality remains stable for Q2FY18
Rohan Takalkar / 24 Oct 2017
HDFC Bank posted quarterly results that met street estimates in terms of NII and net profits. Also, asset quality of the bank remained stable for the quarter.
HDFC Bank posted quarterly results that met street estimates in terms of NII and net profits. Also, asset quality of the bank remained stable for the quarter.
NII for the quarter rose by 3 per cent qoq to Rs. 9,652 crore in Q2FY18 versus Rs. 9,371 crore in previous quarter. This was on the back of lower rise in interest earned, which was up by 4.8 per cent to Rs. 19,570 crore versus Rs. 18,668 crore in the previous quarter.
In terms of asset quality, GNPA’s for the quarter rose by 6 per cent qoq to Rs. 7,702 crore vs Rs. 7,242 crore in Q1FY18. In terms of percentage to total advances GNPA’s for the quarter were stable at 1.26 per cent versus 1.24 per cent in the previous quarter. NNPA’s also remained stable at 0.43 per cent versus 0.44 per cent in Q1FY18.
While provisions for the quarter declined 5.3 per cent qoq to Rs. 1,476 crore versus Rs. 1,558 crore in the previous quarter. However, the net profit didn’t show much improvement as bottom-line grew by 6 per cent qoq to Rs. 4,151 crore.
Advances for the quarter rose substantially by 22 per cent qoq to Rs. 6,04,866 crore. This was largely on the back of strong growth in retail and wholesale segment at 21 per cent and 23 per cent, respectively.
The stock of HDFC Bank opened today at Rs. 1,868 per share and closed flat at Rs. 1,867 per share.
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