HDFC Bank FY25 Q1 Result
The private sector’s biggest bank HDFC Bank FY25 Q1 result was announced on July 20 for the APR-JUN quarter. HDFC bank reports that their net profit decreased by 2% to Rs. 16175.75 Cr. compared to the previous JAN-MAR quarter Rs. 16511.85 Cr. of FY24. However, after post-merger YoY net profit grew by 35.3%.
Net Interest Income (NII) grew by 2.6% to Rs. 28837 Cr. sequentially as compared to last quarter’s NII.
HDFC bank’s operating expenses increased to Rs. 16,620.61 Cr. from Rs. 14,056.91 crore in the first quarter of the financial year. This is an 18.23% of the increase in operating expenses.
Total expenditure HDFC Bank also increased by 53.2% to Rs. 59,816.61 Cr. from Rs. 39,044.65 Cr. previous year, an increase of Rs. 20,771.96 Cr.
HDFC Bank FY25 Q1 result: A Few Key Points
- Bank net Non-Performing Asset (NPA) increased by 17.5% quarter on quarter Rs. 9508.4 Cr. in FY25Q1, compared to Rs. 8091.74 Cr. previous FYQ4. Net NPA ratio increased by 0.39%, as against the previous quarter.
- Gross NPA stood up 6% in the June quarter Rs. 33025.69 Cr. to QoQ, compared to Rs. 31173.32 Cr. in the preceding FY24Q4. The Gross NPA ratio jumped from 1.24% to 1.33% quarter on quarter basis.
- Bank gross advances were increased by 52.6% at ₹ 24,869 billion as of June 30, 2024, as compared to the previous year. Commercial and rural banking loans grew by 23 percent, retail loans increased by 100.4 percent, and corporate and other wholesale loans grew by 18.7 percent.
- Bank total deposits stood up by 24.4 percent at Rs. 23,791 billion as of June 2024, as compared to the previous year’s deposit. CASA (current account and savings account) deposits increased by 6.2 percent, with savings account deposits at Rs. 5,964 billion and current account deposits at Rs. 2,673 billion.
- Time deposits were at Rs. 15,154 billion, an increase of 37.8% over the corresponding quarter of the previous year. The CASA deposits comprised 36.3% of total deposits as of June 30, 2024.
- HDFC Bank reported that, as of June 30, 2024, the Bank’s distribution network was increased to 8,851 branches, as compared to 7,860 branches in the previous year June 30, 2023, and 21,163 ATMs against 20,352 ATMs previous financial year.
- The bank reported that 52 percent of its branches are in semi-urban and rural areas. HDFC Bank also said, “In addition, we have 15,146 business correspondents, which are primarily manned by Common Service Centres (CSC).”
- HDFC Bank said as of the June 2024 quarter their total count of employees increased to 2,13,069, which is 17.2% higher than the 1,81,725 employees of the previous year.
On Jul 19, Friday, HDFC Bank’s share price closed at Rs. 1607.30 on the National Stock Exchange during the week’s last trading session. It was a drop of 7.50 points or 0.46% from the previous trading day.
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