HDFC Bank Q1 Results: HDFC Bank’s profit is Rs.9195 crores! Disappointing results!!

HDFC Bank Q1 Results: The country’s largest private sector bank HDFC Bank released the results on Saturday. On an annualized basis, it earned a net profit of Rs 9,195 crore for the quarter ended June 30, 2022. At the same time last year, the company’s profit was Rs.7,729 crore. Revenue increased to Rs 41,560 crore with a growth rate of 13 percent compared to Rs 36,771 crore last year. On a quarter-on-quarter basis, it has decreased by 8.9 percent from Rs.10,055 crore. Revenue has increased from Rs.41,085 crore.

On an annual basis, net interest income has increased by 14.5 percent to Rs.19,481 crore. It is noteworthy that it was Rs.17,009 crores in the same quarter before that. Core interest margin in total assets‌ 4 percent. Non-interest income increased from Rs.6,288 crore to Rs.9,011 crore. Compared to last year pre provisioning‌ Operating‌ Profit‌ 14.7 percent to Rs.15,367 crores.

H‌DF‌C Bank‌ 2022, set aside Rs.3,187 crore as emergency fund in the quarter ended June. 34 percent less than last year’s Rs.4,830 crore. It is noteworthy that in the March quarter it was Rs.3,312 crores. And gross non-performing assets decreased from 1.47 to 1.28 percent. Compared to the last quarter of last financial year, they are 0.32 percent higher. Net non-performing assets decreased from 0.48 to 0.35 percent. 

HDFC has 725 branches in the last 12 months. There are 29,039 employees. The last quarter saw an increase of 36 branches and 10,932 employees. H‌DF‌c share price gained Rs.11 to Rs.1362 on Friday.

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#HDFCBank Q1 Earnings Snapshot pic.twitter.com/CMb6LIWThX

— Ritu Singh (@_ritusingh) July 16, 2022

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