HDFC Bank shares trade over 1% lower on turning ex-bonus

HDFC Bank shares opened for trading at ₹979.50 against the previous close of ₹1,964.10 on the National Stock Exchange. The stock touched an intraday low of ₹968 and a high of ₹985.70.

As of 9:51 am, HDFC Bank shares traded 1.19% higher at ₹970.

HDFC Bank had last month announced a bonus issue and a special dividend of ₹5 per share.

HDFC Bank had reported a net profit of ₹18,155 crore in the first quarter of the current financial year, marking an increase of 12% from ₹16,175 crore in the same period last year.

The bank's net interest income (NII), or the difference between interest earned on loans and expended on deposits, rose 5% to ₹31,438 crore in the June quarter as against ₹29,837 crore in the year-ago period.

HDFC Bank's provisions saw a massive spike as its provisions and contingencies jumped 455% annually to ₹14,441.63 crore.

The bank's asset quality deteriorated slightly as its gross non-performing assets (NPA), as a percentage of total advances, came in at 1.40% as against 1.33% in the year-ago period. Its net NPA came in at 0.47% as against 0.39% in the same period last year.

In absolute terms, HDFC Bank's gross NPA jumped to ₹37,040.80 crore from ₹33,025.69 crore in the corresponding period last year.

Gross advances at the end of the June quarter came in at ₹26.53 lakh crore at the end of the first quarter, up 6.7% over June 30, 2024. Advances under management grew by 8% annually.