HDFC Bank Q1 FY25 results: Benefit up 35% YoY at Rs 16,175 crore; absolute pay hops 45%
HDFC Bank Q1 FY25 results: During the quarter under survey, the country’s biggest confidential moneylender’s benefit came at Rs 16,174.75 crore contrasted and Rs 11,951.77 crore in the year-prior period.
HDFC Bank Ltd on Saturday detailed a 35.33 percent flood in its year-on-year (YoY) independent net benefit during the first-quarter of the continuous monetary year 2024-25 (Q1 FY25). During the quarter under survey, the country’s biggest confidential loan specialist’s benefit came at Rs 16,174.75 crore contrasted and Rs 11,951.77 crore in the year-prior period.
Be that as it may, net benefit for the quarter finished on June 30 this year was down 2.04 percent, consecutively, from Rs 16,511.85 crore in the past quarter (Q4 FY24).
The bank’s absolute pay rose 44.77 percent to Rs 83,701.25 crore in Q1 FY25 from Rs 57,816.67 crore in the relating period last year. What’s more, pay was up 6.62 percent on a quarter-on-quarter (QoQ) premise.
Premium procured in Q1 FY25 remained at Rs 73,033.14 crore, up 50.31 percent YoY and 2.18 percent QoQ. All out monetary record size was Rs 356.72 crore in the June 2024 quarter contrasted and Rs 250.17 crore in Q1 FY24.
“Absolute stores were at Rs 237.91 crore as of June 30, 2024, an increment of 24.4 percent over June 30, 2023. CASA stores became by 6.2 percent with investment account stores at Rs 59.64 crore and current record stores at Rs 26.73 crore,” HDFC Bank expressed in a public statement.
Gross advances were at Rs 248.69 crore in Q1 FY25, an increment of 52.6 percent over the course of the year-prior period. The bank’s advances under management, on a average basis, were Rs 253.27 crore for the June 2024 quarter, a increase of 54.1 percent over Rs 164.39 crore for the June 2023 quarter, and a growth of 0.8 percent over Rs 251.25 crore for the March 2024 quarter.
Percentage of gross non-performing assets (NPA) to net advances rose to 1.33 percent in the June 2024 quarter from 1.17 percent in Q1 FY24. Net NPA to net advances rate was at 0.39 percent YoY from 0.3 percent in the same period last year.
On Friday, HDFC Bank shares settled 0.67 percent lower at Rs 1,607.10 in front of quarterly outcomes. At this price, the stock has slipped 5.50 percent in 2024 up to this point.
Disclaimer: Cred Bazar gives stock market news for informational purpose only and should not be interpreted as investment guidance. Readers are urged to talk with a expert financial consultant prior to making any inventments.
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