HDFC Bank edges higher on good Q2 result

HDFC Bank rose 0.23% to Rs 896.90 at 14:05 IST on BSE after bank's net profit rose 20.13% to Rs 2381.46 crore on 16.39% rise in total income to Rs 13894.73 crore in Q2 September 2014 over Q2 September 2013.

The bank announced Q2 results during market hours today, 21 October 2014.

Meanwhile, the BSE Sensex was up 98.43 points or 0.37% at 26,528.34.

On BSE, so far 2.61 lakh shares were traded in the counter, compared with an average volume of 2.1 lakh shares in the past one quarter.

The stock hit a high of Rs 905.65 and a low of Rs 888 so far during the day. The stock hit a record high of Rs 909 on 20 October 2014. The stock hit a 52-week low of Rs 618 on 4 February 2014.

The stock had outperformed the market over the past one month till 20 October 2014, rising 4.05% compared with 2.44% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 7.49% as against Sensex's 3.07% rise.

The large-cap private bank has an equity capital of Rs 482.86 crore. Face value per share is Rs 2.

The bank's net interest income rose 23.1% to Rs 5511 crore in Q2 September 2014 over Q2 September 2013. Net interest margin stood at 4.5% in Q2 September 2014 as against 4.3% in Q2 September 2013.

Gross non-performing assets (NPAs) were at 1.02% of gross advances as on 30 September 2014, as against 1.09% as on 30 September 2013 and 1.07% as on 30 June 2014. Net non-performing assets were at 0.28% of net advances as on 30 September 2014 same as on 30 September 2013 and as on 30 June 2014. Total restructured loans (including applications received and under process for restricting) were at 0.1% of gross advances as of 30 September 2014 as against 0.2% as of 30 September 2013.

The bank's total capital adequacy ratio (CAR) as at 30 September 2014 (computed as per Basel III guidelines) stood at 15.7% as against a regulatory requirement of 9%. Tier-I CAR was 11.8%.

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