HDFC Bank Ltd reports Q1FY21 consolidated PAT of Rs. 6927.24 crore

HDFC Bank Ltd has reported financial results for the period ended June 30, 2020.

Financial Results (Q1 FY 2020-21) - QoQ Comparison

The company has reported total income of Rs.36698.59 crores during the period ended June 30, 2020 as compared to Rs.38287.17 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.6927.24 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.7280.22 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.12.6 for the period ended June 30, 2020 as compared to Rs.13.2 for the period ended March 31, 2020.

Financials	Q1 FY2020-21	Q4 FY19-20	% Change
Total Income	₹ 36698.59 crs	₹ 38287.17 crs	-4.15%
Net Profit	₹ 6927.24 crs	₹ 7280.22 crs	-4.85%
EPS	₹ 12.6	₹ 13.2	-4.55%

Financial Results (Q1 FY 2020-21) - YoY Comparison

The company has reported total income of Rs.36698.59 crores during the period ended June 30, 2020 as compared to Rs.34324.45 crores during the period ended June 30, 2019.

The company has posted net profit / (loss) of Rs.6927.24 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.5676.06 crores for the period ended June 30, 2019.

The company has reported EPS of Rs.12.6 for the period ended June 30, 2020 as compared to Rs.10.3 for the period ended June 30, 2019.

Financials	Q1 FY2020-21	Q1 FY2019-20	% Change
Total Income	₹ 36698.59 crs	₹ 34324.45 crs	6.92%
Net Profit	₹ 6927.24 crs	₹ 5676.06 crs	22.04%
EPS	₹ 12.6	₹ 10.3	22.33%

Total balance sheet size as of June 30, 2020 was Rs. 1,545,103 crore as against Rs. 1,265,253 crore as of June 30, 2019, a growth of 22.1%.

Total deposits as of June 30, 2020 were Rs. 1,189,387 crore, an increase of 24.6% over June 30, 2019. CASA deposits grew by 26.0% with savings account deposits at Rs. 327,358 crore and current account deposits at Rs. 150,077 crore. Time deposits were at Rs. 711,952 crore, an increase of 23.7% over the previous year, resulting in CASA deposits comprising 40.1% of total deposits as of June 30, 2020. The Bank's continued focus on deposits helped in the maintenance of a healthy liquidity coverage ratio at 140%, well above the regulatory requirement.

Total advances as of June 30, 2020 were Rs. 1,003,299 crore, an increase of 20.9% over June 30, 2019. Domestic advances grew by 21.0% over June 30, 2019. As per regulatory [Basel 2] segment classification, domestic retail loans grew by 7.2% and domestic wholesale loans grew by 37.6%. The domestic loan mix as per Basel 2 classification between retail:wholesale was 48:52. Overseas advances constituted 3% of total advances.

The Bank's total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 18.9% as on June 30, 2020 (16.9% as on June 30, 2019) as against a regulatory requirement of 11.075% which includes Capital Conservation Buffer of 1.875%, and an additional requirement of 0.20% on account of the Bank being identified as a Domestic Systemically Important Bank (D-SIB). Tier 1 CAR was at 17.5% as of June 30, 2020 compared to 15.6% as of June 30, 2019. Common Equity Tier 1 Capital ratio was at 16.7% as of June 30, 2020. Risk-weighted Assets were at Rs. 1,010,774 crore (as against Rs. 965,635 crore as at June 30, 2019).

Gross non-performing assets were at 1.36% of gross advances as on June 30, 2020, (1.2% excluding NPAs in the agricultural segment) as against 1.26% as on March 31, 2020 (1.1% excluding NPAs in the agricultural segment) and 1.40% as on June 30, 2019 (1.2% excluding NPAs in the agricultural segment). Net non-performing assets were at 0.33% of net advances as on June 30, 2020.

During the quarter, the Bank has used its analytical models to determine slippages, resulting in a more expedited recognition of NPAs, as well as accelerated corresponding specific provisions. The Bank also continues to hold provisions as on June 30, 2020 against the potential impact of COVID-19 based on the information available at this point in time and the same are in excess of the RBI prescribed norms.

The Bank held floating provisions of Rs. 1,451 crore and contingent provisions of Rs. 4,002 crore as on June 30, 2020. Total provisions (comprising specific, floating, contingent and general provisions) were 149% of the gross non-performing loans as on June 30, 2020.

Shares of HDFC Bank Ltd was last trading in BSE at Rs.1099.15 as compared to the previous close of Rs. 1062.35. The total number of shares traded during the day was 1025663 in over 15563 trades.

The stock hit an intraday high of Rs. 1103.85 and intraday low of 1059. The net turnover during the day was Rs. 1104329581.

Source : Equity Bulls

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