InvestorQ : What is your quick take on the HDFC Bank stock after its Q2 results?
indhumathi Sayani made post

What is your quick take on the HDFC Bank stock after its Q2 results?

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2 months ago
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Let us first look at the results of HDFC bank. For the Sep-21 quarter, its total revenues grew 7.8% at Rs.41,436 crore. Growth in revenues was led by corporate banking at 12.6% and treasury at 7% while retail banking was flat. PAT for the Sep-21 quarter was up 18.1% at Rs.9,096 crore. The profit spike was led by lower interest costs, flat provisioning and gross NPAs falling to 1.35%. The profit boost came from corporate banking.

NII was up 12.1% in the Sep-21 quarter at Rs.17,684 crore while the net interest margins or the NIM was slightly lower at 4.1%. The good news was that total credit cost ratio fell from 1.67% to 1.30% on the back of lower rates. CASA deposits growing 28.7% to account for 46.8% of total deposits also helped funding costs. PAT margins were fairly robust at 21.95% as against 20.04% in the Sep-20 quarter and 20.35% in the previous Jun-21 quarter.

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