HDFC Bank Q4 results 2019 Highlights: Private lender's fourth-quarter profit up to record high

HDFC Bank Q4 results 2019: Net profit at the bank rose 22.6 percent for the three months to March 31, from 47.99 billion rupees a year ago.

Analysts were looking for a profit of 58.46 billion rupees, according to IBES data from Refinitiv. Photo: Reuters

HDFC Bank Q4 results 2019: HDFC Bank has reported a 23 per cent jump in its net profit to Rs 5,885.12 crore for the quarter ended March 2019 on a healthy growth in its net interest income. In an official statement, HDFC Bank today said, "The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter and full year ended March 31, 2019, at their meeting held in Mumbai on Saturday, April 20, 2019. The accounts have been subjected to an audit by the statutory auditors of the Bank." Check highlights:

- The Bank’s total income for the quarter ended March 31, 2019 at Rs 31,204.5 crore grew by 22.1% from Rs 25,549.7 crore for the quarter ended March 31, 2018. Net revenues (net interest income plus other income) increased by 20.7% to Rs 17,960.7 crore for the quarter ended March 31, 2019 from ` 14,886.3 crore in the corresponding quarter of the previous year. Net interest income (interest earned less interest expended) for the quarter ended March 31, 2019 grew by 22.8% to Rs 13,089.5 crore, from Rs 10,657.7 crore for the quarter ended March 31, 2018, driven by average asset growth of 19.8% and a core net interest margin for the quarter of 4.4%.

- Other income (non-interest revenue) at Rs 4,871.2 crore was 27.1% of the net revenues for the quarter ended March 31, 2019 and grew by 15.2% over Rs 4,228.6 crore in the corresponding quarter ended March 31, 2018. The four components of other income for the quarter ended March 31, 2019 were fees & commissions of Rs 3,692.1 crore (Rs 3,329.7 crore in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of Rs 403.3 crore (Rs 416.4 crore for the corresponding quarter of the previous year), gain on revaluation / sale of investments of Rs 228.9 crore (loss of Rs 22.0 crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend, of Rs 546.9 crore (Rs 504.5 crore for the corresponding quarter of the previous year).

TRENDING NOW

Source: HDFC Bank

- Profit & Loss Account: Year ended March 31, 2019

For the year ended March 31, 2019, the Bank earned a total income of Rs 116,597.9 crore. Net revenues (net interest income plus other income) for the year ended March 31, 2019 were Rs 65,869.1 crore, up by 19.1% over Rs` 55,315.2 crore for the year ended March 31, 2018. The core net interest margin for the year ended March 31, 2019 was 4.3%. The core cost to income ratio for the year ended March 31, 2019 was at 39.9%, as against 41.7% for the year ended March 31, 2018. The Bank’s net profit for the year ended March 31, 2019 was Rs 21,078.1 crore, up 20.5% over the year ended March 31, 2018.

Watch Zee Business Live here:

Net profit at the bank rose 22.6 percent for the three months to March 31, from 47.99 billion rupees a year ago, it said in a statement. Analysts were looking for a profit of 58.46 billion rupees, according to IBES data from Refinitiv.

TAGS:

HDFC Bank