HDFC Bank slips over 3% despite Q4 profit uptick

HDFC Bank Q4 results 2018 highlights All you want to know in 10 points

The profits were boosted by both interest and non-interest-income growth with net interest income growing 17.7% to Rs. 10,657.7 crore and other income by 22.7% to Rs. 3,446.3 crore during the quarter.

Currently, HDFC Bank has a market capitalisation of Rs 5,01,643.92 crore on BSE.

The bank on Saturday posted 20.27 per cent year-on-year growth in net profit at Rs 4,799.28 crore - its highest ever quarterly profit for the January-March quarter - driven by stable asset quality. Net revenues - net interest income plus other income - increased by 19.1 per cent to Rs 14,886.3 crore for the March quarter last fiscal.

During the period, the bank's net interest income (interest earned less interest expended) showed a growth of nearly 18 per cent to Rs 10,657.7 crore from Rs 9,055.1 crore in the year-ago period.

On the asset quality, it said gross non-performing assets (bad loans) were at 1.30 per cent of gross advances as on March 31, 2018, as against 1.29 per cent as on December 31, 2017 and 1.05 per cent as on March 31, 2017.

Private lender HDFC Bank dropped over 3 percent today even though it reported over 20 percent growth in the Q4 net gain on Saturday.

The lender had made a provision of Rs. 1,132 crore during the quarter for bad loans as compared with Rs. 988 crore during the same period of previous year.

"Net non-performing assets were at 0.4% of net advances as on March 31, 2018". Retail loans of HDFC Bank showed a rise of 27.4 per cent compared with wholesale loans, which grew 9.4 per cent.

The bank's total income for the period under review stood at Rs 95,461.66 crore up from Rs 81,602.45 crore earned during the year ended March 31, 2017. However after touching intraday low of Rs 1894.85, the share price of the bank closed at Rs 1933.05 down by 1.42%.

Besides approving the financial results, the bank's board also recommended a dividend of Rs 13 per equity share of Rs 2 for the year (650 per cent) ended March 31, 2018, as against, 11 per equity share of Rs 2 for the previous year.

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