HDFC Bank Q4 Results Highlights: Net profit up 37% YoY at ₹16,511 crore; dividend of ₹19.5/share declared

The live coverage of the fourth quarter results of HDFC Bank, India's largest private sector lender, has concluded. The bank's net profit was nearly flat on a sequential basis, despite surging by 37% as compared to the year-ago period when its parent entity – HDFC Ltd – was not merged into it.

HDFC Bank Q4 results: Here are the key metrics

• Standalone net profit came in at ₹16,511 crore, up 0.84% quarter-on-quarter (QoQ).
• Standalone net interest income grew 2.1% QoQ to ₹29,077 crore.
• The board recommended a dividend of ₹19.5 per equity share.
• The core net interest margin stood at 3.44% on total assets.
• The gross non-performing assets (NPA) ratio improved to 1.24%.

Here are the full highlights of HDFC Bank Q4 results

HDFC Bank Q4 Results LIVE Update at 4:00 pm: Net revenue in FY24 stood at ₹1,57,770 crore

For the year ended March 31, 2024, the bank earned net revenues (net interest income plus other income) of ₹1,57,770 crore, as against ₹1,18,060 crore in FY23, HDFC Bank said in a release.

HDFC Bank Q4 Results LIVE Update at 3:45 pm: FY24 net profit up 37.9%, NII up 25%

Net interest income (NII) for the entire fiscal year ended March 31, 2024, came in at ₹1,08,530 crore, up 25% as compared to FY23.

Profit after tax for the full FY24 period stood at ₹60,810 crore, up by 37.9% as against the preceding financial year.

HDFC Bank Q4 Results LIVE Update at 3:32 pm: Net profit flat sequentially, NII grows 2.1% QoQ

The standalone net profit in Q4 FY24, at ₹16,511 crore, increased slightly by 0.84% as compared to ₹16,372 crore in Q3 FY24.

On consolidated basis, the net profit grew by 2.1% to ₹17,622 crore, as compared to ₹17,257 crore in the preceding quarter.

The NII for the quarter, at ₹29,077 crore, rose by 2.1% QoQ as compared to the NII of ₹23,352 crore in Q3 FY24.

HDFC Bank Q4 Results LIVE Update at 3:27 pm: CASA deposits grow 8.7% YoY

The current account and saving account (CASA) deposits of the bank grew by 8.7%, and time deposits increased by 40.4% as compared to the year-ago period. The CASA ratio stood at 38%.

HDFC Bank Q4 Results LIVE Update at 3:20 pm: Operating expenses rise 33.5% YoY

Operating expenses in Q4 FY24 stood at ₹17,970 crore, increasing by 33.5% from ₹13,460 crore in the year-ago period. Operating expenses for the January-February period included staff ex-gratia provision of ₹1,500 crore.

HDFC Bank Q4 Results LIVE Update at 3:12 pm: Consolidated net revenue rises 133% YoY

HDFC Bank's consolidated net revenue grew by 133% to ₹80,700 crore in Q4 FY24 from ₹34,550 crore in the year-ago quarter, the bank said in a regulatory filing. The earnings per share for the fourth quarter was ₹23.2 and book value per share as of March 31, 2024 stood at ₹600.8, it added.

HDFC Bank Q4 Results LIVE Update at 3:07 pm: Total deposits grow by 26.6%

The total deposits of the bank stood at ₹23.7 lakh crore as of Q4 FY24, which is 26% higher than ₹18.8 lakh crore in Q4 FY23. The total advances came in at ₹24.8 lakh crore, 55% higher from ₹16 lakh crore in the year-ago period.

HDFC Bank Q4 Results LIVE Update at 2:58 pm: Asset quality improves in Jan-March period

The asset quality of the bank came in strong as the gross non-performing assets (GNPA) and net non-performing assets (NNPA) ratios stood at 1.24% and 0.33%, respectively, in Q4 FY24 as compared to 1.13% and 0.27% in the year-ago quarter.

HDFC Bank Q4 Results LIVE Update at 2:53 pm: Dividend of ₹19.50 per share announced

"The board of directors has recommended a dividend of ₹19.50 per equity share of ₹1/- each fully paid up out of the net profits for the year ended March 31, 2024, subject to the approval of the shareholders at the ensuing Annual General Meeting," HDFC Bank said.

HDFC Bank Q4 Results LIVE Update at 2:47 pm: NII grows 29% YoY to ₹29,077 crore

HDFC Bank’s net interest income (NII) grew by 29% YoY in Q4 FY24 to ₹29,077 crore, as against ₹23,352 crore in Q4 FY23. The rise in NII was largely led by a 58% increase in total interest income for the fourth quarter at ₹71,472 crore, as compared to ₹45,119 crore in the year-ago period.

The total interest expended grew 94% YoY to ₹42,395 crore in Q4 FY24, as compared to ₹21,767 crore in Q4 FY23.

HDFC Bank Q4 Results LIVE Update at 2:40 pm: Net profit comes in at ₹16,511 crore

HDFC Bank has posted a net profit of ₹16,511 crore in the January-March period of fiscal year 2023-24 (Q4 FY24), which is marginally higher as compared to ₹16,373 crore clocked in the preceding quarter. Year-on-year, however, it climbed by 37%.

HDFC Bank Q4 Results LIVE Update at 2:00 pm: What are the net profit estimates?

The net profit clocked by HDFC Bank in Q4 FY24 is likely to be ₹17,593.5 crore, as per the estimate shared by news agency Bloomberg. This will be up nearly 7.5% as compared to ₹16,373 crore in the year-ago quarter.

HDFC Bank Q4 Results LIVE Update at 1:30 pm: What are the revenue estimates?

HDFC Bank is expected to clock a revenue from operations of ₹40,954 crore, according to the estimate shared by Bloomberg. This is slightly higher as against a revenue from operations of ₹39,600 crore reported in the preceding quarter.

HDFC Bank Q4 Results LIVE Update at 1 pm: The fourth quarter results are expected to be declared shortly by the private lender. The performance details for the entire fiscal year ending March 31, 2024 would also be shared by HDFC Bank.

HDFC Bank Q4 Results LIVE Update at 12:15 pm: What is the mcap of HDFC Bank?

The market capitalisation of HDFC Bank, as of April 19, stood at ₹11,63,315 crore. The value gained as the lender's shares settled 2.45% higher on the NSE at ₹1,531.3 apiece.

HDFC Bank Q4 Results LIVE Update at 11:40 am: First financial year result after HDFC-HDFC Bank amalgamation

Market analysts and investors will be on the watch out, as HDFC Bank will also be releasing its results for the year-ended March 31, 2024, apart from the Q4 results. This will be the first financial year results after the erstwhile HDFC Ltd merged with HDFC Bank on July 1, 2023.

HDFC Bank Q4 Results LIVE Update at 11:10 am: DIIs increase their holding in recent months

The shareholding of Domestic Institutional Investors (DIIs) has increased by nearly 2% in recent months. For the quarter ended in December 2023, DIIs were holding 30.81%, and they are presently holding 33.59%. Retailers increased their shareholding from 16.9% to 18.56%.

HDFC Bank Q4 Results LIVE Update at 10:40 am: Fourth quarter earnings comes days after Credila stake sale

The proceeds from Credila stake sale are expected to be a strong addition to HDFC Bank’s Q4 FY24 results as it will help the banking company achieve a better financial position. The bank had completed the sale of its stake in the education finance arm, HDFC Credila, for ₹9,553 crore.

Also Read: HDFC Bank to announce Q4 results today: Credila likely to aid net profit

HDFC Bank Q4 Results Live Update at 10:10 am: Deposits surge in March quarter, bank said in its operational update

HDFC Bank's deposits aggregate stood at ₹18.83 lakh crore as on March 31, 2024. The lender posted a 26.4% growth in deposits in Q4 FY24 when compared to the year-ago period, and around 7.5% growth over ₹22.10 lakh crore in Q3 FY24.

HDFC Bank Q4 Results Live Update at 9:50 am: Growth in loans indicates efficient quarterly performance, say analysts

HDFC Bank, its operational update for Q4 FY24 released earlier, said that its gross loans increased 1.6% sequentially as compared to ₹24.69 lakh crore at the end of December 31, 2023.

HDFC Bank Q4 Results LIVE Update at 9:30 am: HDFC Bank's NPA has been on the decline

In the October-December period, the non-performing assets (NPAs) of the lender reduced from ₹31,577.89 crore to ₹31,011.67 crore. The NPAs are expected to go lower again in Q4FY24, helping the bank perform better.

Also Read: How to plan an options trade in HDFC Bank ahead of Q4 results?

HDFC Bank, the country’s largest private lender in terms of assets, will declare its results for the fourth quarter of financial year 2023-24 (Q4 FY24) on Saturday, April 20. This will mark the third quarterly results to be released by the lender after its parent entity – the Housing Development Finance Corporation (HDFC) – was merged into it.

HDFC Bank is expected to post a net profit of ₹17,593.5 crore in the January-March period, according to the estimates shared by Bloomberg. This will be up nearly 7.5% as compared to ₹16,373 crore reported in the preceding quarter.

The year-on-year numbers are not considered comparable as HDFC was merged into HDFC Bank in July 2023.

The revenue from operations, according to the Bloomberg estimate, is seen at ₹40,954.1 crore. This projection is marginally higher as compared to ₹39,600 crore clocked in the October-December period.

As per Nomura’s analysis, HDFC Bank is expected to maintain operational efficiency, and its net interest margin (NIM) is likely to be sustainable at 3.4%.

Notably, HDFC Bank stood as the world’s sixth largest lender in terms of market capitalisation, as of January 2024. In the business update released for the March quarter, the bank said its deposits surged by 7.5% sequentially to ₹23.8 lakh crore in the three-month period.

A day ahead of the release of quarterly results, HDFC Bank’s stock edged higher at the markets. The scrip settled at ₹1,531.30 apiece on the NSE, up 2.45% as against the previous day’s close.