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HDFC Bank Q4 FY22 Results

16 April 2022
3 minutes

One of the largest private sector banks in India, HDFC Bank Limited, declared its quarterly results for the last quarter of FY 2021-22 on 16th April 2022. The results depicted impressive performance by the bank in the last quarter as its net profit rose by 22.8% year on year (YoY) from Rs.8187 crores in Q4FY21 to Rs.10,055 in Q4FY22. This jump was despite the provision for taxation amounting to Rs.2989.50 crores in the quarter under review. The total income of the bank also jumped 8% YoY to Rs.41,086 crores from Rs.38,018 crores last year.

The net interest income increased 10.2% YoY from Rs.17,120 crores to Rs.18,873 crores. The non-interest revenue, on the other hand, increased by 28.8% YoY and was recorded at Rs.7637 crores in Q4FY22. 

Advances increased by 20.8% on a quarter on quarter (QoQ) basis due to the addition of 24 lakh new accounts in the January-March 2022 quarter. In line, deposits collected by the bank also rose 16.8% YoY to stand at Rs.15,59,217 crores. Trading income is reported up 10.6% YoY for the last quarter of the fiscal.

Overall, the bank’s balance sheet saw a growth of 18.4% YoY, a rise from Rs.17,46,871 crores in Q4FY21 to Rs.20,68,535 crores.

On 14th April 2022, the scrip of HDFC Bank closed at Rs.1464.85 at the National Stock Exchange after declining by 1.90% on an intraday basis. However, the scrip traded on the NSE at 3.49 times its book value compared to the scrips of ICICI Bank and Axis Bank, both of which traded at 3.03 times and 2.14 times their book values, respectively.  

Read more: HDFC-HDFC Bank merger

Hits

  • 22.8% YoY rise in the net profit – from Rs.8187 crores in Q4FY21 to Rs.10,005 crores in Q4FY22
  • 8% YoY jump in total income – from Rs.38,018 crores to Rs.41,086 crores
  • 10.2% YoY jump in the net interest income, from Rs.17,120 crores to Rs.18,873 crores
  • Reduction in the ratio of gross non-performing assets to total advances. The ratio reduced to 1.17% from 1.26% in the last quarter and 1.32% in Q4FY21
  • 16.8% YoY jump in the deposits – from Rs.13,35,060 crores to Rs.15,59,217 crores
  • 20.8% QoQ increase in advances – from Rs.11,32,837 crores to Rs.13,68,821 crores
  • 28.8% YoY jump in the non-interest revenues – from Rs.7594 crores to Rs.7637 crores
  • 10.6% YoY jump in the trading income
  • Reduction in the total credit cost on a yearly basis. The cost stood at 0.96% in Q4FY22 compared to 1.64% in Q4FY21
  • 18.4% YoY jump in the overall value of the balance sheet – from Rs.17,46,871 crores to Rs.20,68,535 crores
  • HDFC Bank collected Rs.5630 crores in fees and commissions in Q4FY22 which is a 12.1% jump from Rs.5023 crores in Q4FY21

Misses

  • Total credit cost jumped on a quarterly basis to stand at 0.96% in Q4 compared to 0.94% in Q3

Other things to know

  • Net interest margin was reported at 4% of total assets. On interest-earning assets, however, the margin was reported at 4.2%
  • Total provisions, as of 31st March 2022, stood at 182% of the gross NPAs
  • The liquidity of HDFC Bank was recorded at 112% which is above the RBI’s liquidity requirements
  • HDFC Bank posted a capital adequacy of 18.9%.

To read the RA disclaimer, please click here.
Research Analyst: Bavadharini KS

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