Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

HDFC Bank announces Q4, FY2018-19 results

Posted On: 2019-04-20 17:18:13

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.

STANDALONE FINANCIAL RESULTS:

Profit & Loss Account: Quarter ended March 31, 2019

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 Rs. 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) a~ 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).

Operating expenses for the quarter ended March 31, 2019 were Rs. 7,117.1 crore, an increase of 17.6% over Rs. 6,050.6 crore during the corresponding quarter of the prev year. The core cost-to-income ratio for the quarter was at 40.1 % as against 40.6% for the corresponding quarter ended March 31, 2018.

Provisions and contingencies for the quarter ended March 31, 2019 were Rs. 1,889.2 crore (consisting of specific loan loss provisions Rs. 1,431.2 crore, general provisions Rs. 191.2 crore and other provisions Rs. 266.9 crore) as against Rs. 1,541.1 crore (consisting of specific loan loss provisions Rs. 1,132.5 crore, general provisions Rs. 153.4 crore and other provisions Rs. 255.3 crore) for the quarter ended March 31, 2018. Profit before tax (PBT) for the quarter ended March 31, 2019 was up 22.8% to Rs. 8,954.4 crore.

After providing Rs. 3,069.3 crore for taxation, the Bank earned a net profit of Rs. 5,885.1 crore, an increase of 22.6% over the quarter ended March 31, 2018.

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.

Balance Sheet: As of March 31, 2019

Total balance sheet size as of March 31, 2019 was Rs. 1,244,541 crore as against Rs. 1,063,934 crore as of March 31, 2018.

Total deposits as of March 31, 2019 were Rs. 923,141 crore, an increase of 17.0% over March 31, 2018. CASA deposits grew by 14.0% with savings account deposits at Rs. 248,700 crore and current account deposits at Rs. 142,498 crore. Time deposits were at Rs. 531,943 crore, an increase of 19.4% over the previous year, resulting in CASA deposits comprising 42.4% of total deposits as of March 31, 2019. The Bank's continuing focus on deposits helped in the maintenance of a healthy liquidity coverage ratio at 118%, well above the regulatory requirement.

Total advances as of March 31, 2019 were Rs. 819,401 crore, an increase of 24.5% over March 31, 2018. Domestic advances grew by 24.6% over March 31, 2018. As per regulatory [Basel 2] segment classification, domestic retail loans grew by 19.0% and domestic wholesale loans grew by 31.9%. The domestic loan mix as per Basel 2 classification between retail:wholesale was 54:46. Overseas advances constituted 3% of total advances.

Capital Adequacy:

The Bank's total Capital Adequacy Ratio (CAR) as per Basel Ill guidelines was at 17.1% as on March 31, 2019 (14.8% as on March 31, 2018) as against a regulatory requirement of 11.025% which includes Capital Conservation Buffer of 1.875%, and an additional requirement of 0.15% on account of the Bank being identified as a Domestic Systemically Important Bank (D-SIB). Tier 1 CAR was at 15.8% as of March 31, 2019 compared to 13.2% as of March 31, 2018. Common Equity Tier 1 Capital ratio was at 14.9% as of March 31, 2019. Risk-weighted Assets were at Rs. 931,930 crore (as against Rs. 800,126 crore as at March 31, 2018).

Network

As of March 31, 2019, the Bank's distribution network was at 5,103 banking outlets and 13,160 ATMs across 2,748 cities/ towns as against 4,787 banking outlets and 12,635 ATMs across 2,691 cities/ towns as of March 31, 2018. Of the total banking outlets, 53% are in semi-urban and rural areas. Number of employees were at 98,061 as of March 31, 2019 (as against 88,253 as of March 31, 2018).

ASSET QUALITY

Gross non-performing assets were at 1.36% of gross advances as on March 31, 2019, as against 1.38% as on December 31, 2018 and 1.30% as on March 31, 2018. Coverage ratio as on March 31, 2019 was 71 %. Net non-performing assets were at 0.4% of net advances as on March 31, 2019. The Bank held floating provisions of Rs. 1,451 crore as on March 31, 2019. Total provisions (comprising specific provisions, general provisions and floating provisions) were 117% of the gross non-performing loans as on March 31, 2019.

CONSOLIDATED FINANCIAL RESULTS

The Bank's consolidated financial results include financial results of its subsidiary companies based on the recognition and measurement principles as per Indian GAAP. The consolidated net profit for the year ended March 31, 2019 was Rs. 22,332.4 crore, up 20.7%, over the year ended March 31, 2018. Consolidated advances grew by 24.2% from Rs. 700,034 crore as on March 31, 2018 to Rs. 869,223 crore as on March 31, 2019.

SUBSIDIARIES

The financial results of the Bank's subsidiary companies have been prepared in accordance with notified Indian Accounting Standards ('Ind-AS') with effect from April 1, 2018 (April 1, 2017 being the transition date). Accordingly, the financial results for the comparative reporting period have also been prepared in accordance therewith.

HDFC Securities Limited (HSL) is amongst the leading retail broking firms in India. As on March 31, 2019, the Bank held 97.3% stake in HSL.

For the year ended March 31, 2019, HSL's total income was Rs. 782.1 crore as against Rs. 800.1 crore for the year ended March. 31, 2018. Profit after tax before other comprehensive income for the year was Rs. 329.8 crore, as against Rs. 344.7 crore in the previous year.

As on March 31, 2019 HSL had 278 branches across 165 cities / towns in the country.

HDB Financial Services Limited (HDBFSL) is a non-deposit taking non-bank finance company ('NBFC') offering wide range of loans and asset finance products to individuals, emerging businesses and micro enterprises. As on March 31, 2019, the Bank held 95.5% stake in HDBFSL.

As on March 31, 2019, HDBFSL's balance sheet size was at Rs. 56,540 crore. The gross loan book grew by 23.6% to Rs. 54,709 crore as on March 31, 2019 {as against Rs. 44,268 crore as of March 31, 2018).

For the year ended March 31, 2019, HDBFSL's net interest income grew by 17.2% to Rs. 3,378.8 crore (as against Rs. 2,882.2 crore in the previous year). Profit after tax before other comprehensive income for the year ended March 31, 2019 was Rs. 1,153.2 crore compared to Rs. 933.0 crore in the previous year, a growth of 23.6%.

As on March 31, 2019, HDBFSL had 1,350 branches across 981 cities / towns. Gross impaired loans were at 1.8% of gross loans and net impaired loans were at 1.3% of net loans as on March 31, 2019. Total CAR was at 17.9% with Tier-I CAR at 12.8%.

Shares of HDFC Bank Ltd was last trading in BSE at Rs.2290.15 as compared to the previous close of Rs. 2304.75. The total number of shares traded during the day was 609803 in over 4960 trades.

The stock hit an intraday high of Rs. 2315 and intraday low of 2284.6. The net turnover during the day was Rs. 1402262180.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Coffee Day Enterprises Ltd update On Debt Position

Mahindra inaugurates its 1st automotive assembly plant in Sri Lanka, expands global footprint

TVS Motor Singapore invests US$ 3.2 Million in Predictronics Corporation

NACL Industries Ltd reports financial results for Q1 FY20

Precision Camshafts Limited - Q1 FY2020 results

SREI Equipment Finance Ltd's NCD issue opens on Aug 16, 2019

Transform Banking with Newgen at FIBAC 2019

Hero MotoCorp surpasses milestone of 1000 women employees

Sun Pharma and China Medical System Holdings Enter into Licensing Agreement for Generic Products in Mainland China

IFIN & RCFL initiate proceedings against SKIL Infrastructure Ltd

Kridhan Infra Limited - VNC wins new orders worth INR 145 Crores

Ram Ratna Wires Ltd fixes Aug 30, 2019 as record date for dividend

Himatsingka Seide Ltd clarifies on certain media reports

Master Trust Ltd fixes Aug 27, 2019 as record date for sub-division of equity shares

Advik Laboratories Ltd Board to consider sale of manufacturing unit

CARE downgrades ratings of Walchandnagar Industries Ltd

Super Crop Safe Limited announces Financial Results for Q1FY20

Info Edge India Ltd to invest in Shopkirana

Hinduja Ventures Ltd board to consider reorganizaiton of businesses on Aug 23, 2019

Voltas launches new Brand Shop at Gajuwaka, Visakhapatnam

CRISIL downgrades ratings of DCM Ltd

Lupin receives U.S. FDA approval for Hydrocortisone Valerate Cream

Birlasoft Wins Two Oracle Excellence Awards for 2019

TCS Interactive Wins 2019 Red Dot: Best of the Best Award in Brands and Communication Design

Blue Star Ltd - Financial Highlights for Q1 FYF20

Hindustan Foods Ltd - Q1-FY20 Performance Highlights

Omaxe Ltd Consolidated PAT for Q1 FY19-20 at Rs 14.91 cr

QGO Finance Ltd board to consider NCD issue on Aug 21, 2019

Mindteck reports financial results for Q1 2019-20

Ramkrishna Forgings Ltd's resolution plan for ACIL Ltd accepted

KNR Constructions Ltd to sell stake in SPV for Rs. 95.79 crores

Panacea Biotec announces Q1 FY20 results

IOB offers Retail Loans through the online portal PSB Loans in 59 minutes.com

Travel Money with YES BANK to launch Forex Card on Visa network

Mishtann Foods reports 22.1% increase in Q1FY2020 PAT at INR 3.14 crore

India Ratings assigns 'Ind AA- / Negative' For Indian Overseas Bank Bonds

YES BANK raises Rs. 1,930 crores through Qualified Institutions Placement route

Hero MotoCorp Ltd updates on closure of production facilities

Voltas Beko launches India's first 5 Star rated Washing Machines

Titagarh Wagons Ltd consortium bags order for Pune Metro Rail project

PVR launches sub-brand PVR UTSAV in Satna

Brigade Enterprises Ltd fixes Aug 29, 2019 as record date for bonus issue

India Infoline Finance announces consolidated PAT of Rs. 181 crore

West Coast Paper Mills Limited : Q1FY20 Results

Dynacons Systems & Solutions Ltd Board approves interim dividend of Rs. 0.50

Man Industries India Limited reports Q1FY20 Financial Results

Simplex Infra announces unaudited Q1FY20 results

Repco Home Finance reports 21% sequential jump in profits

Veto Switchgears and Cables reports Q1 FY20 results

MET Motoren und Fahrzeugtechnik GmbH awarded with contract of Machined Balancer Shaft unit from Linamar Antriebstechnik GmbH







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019