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.
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Research Analyst: Bavadharini KS