HDFC-Bank’s fourth-quarter net profit increased by 37% to ₹ 16,511 crore: Net interest income in Q4FY24 was ₹ 29,076 crore, the bank will give a dividend of ₹ 19.5

The country’s largest private bank HDFC has released the results of Q4FY24 i.e. the fourth quarter of the financial year 2024 on Saturday (April 20). HDFC Bank’s standalone net profit in the January-March quarter stood at ₹16,511.85 crore, up 37.05% year-on-year. The bank will give a dividend of Rs 19.50 per equity share to the investors. The bank has also announced to give a dividend of Rs 19.50 per equity share to its investors. Whereas the net interest income of the bank increased by 24.51% on annual (YoY) basis to Rs 29,076.82 crore. It was Rs 23,351.83 crore in the same quarter last year. The bank’s core interest margin on total assets stood at 3.44%. The bank’s core interest margin on total assets stood at 3.44% in the January-March quarter. Whereas the margin on interest earning assets was 3.63%. HDFC Bank’s consolidated net profit increased by 39.92% on year-on-year (YoY) basis to Rs 17,622.38 crore as against Rs 12,634.01 crore in the same quarter last year. HDFC Bank’s net revenue increased by 47.3% to Rs 47,240 crore. HDFC Bank’s net revenue increased by 47.3% on year-on-year (YoY) basis to Rs 47,240 crore. It was Rs 32,080 crore in the same quarter last year. Other income (non-interest revenue) in the March quarter was Rs 18,170 crore. It was Rs 8,730 crore in the same quarter last year. Operating expense in the March quarter stood at Rs 17,970 crore. Operating expense in the March quarter stood at Rs 17,970 crore, which is 33.5% more than Rs 13,460 crore in the same quarter last year. Operating expenses for the quarter included staff ex-gratia of Rs 715 crore. Credit performance remains good across all sectors The bank said in the filing that credit performance across all sectors remains good and GNPA has shown improvement compared to the previous quarter. GNPA stood at 1.24% in the March quarter. The bank had 8,738 branches and 20,938 ATMs in 4,065 cities. As of March 31, 2024, HDFC Bank had 8,738 branches and 20,938 ATMs in 4,065 cities. Of these, 52% branches are in semi-urban and rural areas. HDFC Bank shares reached Rs 1,534.20. On Friday, HDFC Bank shares closed at Rs 1,534.20, up 2.64%. With this the market cap of the company has become Rs 11.63 lakh crore.

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