HDFC Bank gains after strong Q2 results

HDFC Bank rose 1.29% to Rs 1245.05 after net profit rose 26.75% to Rs 6,344.99 crore on 19.63% increase in total income to Rs 33755 crore in Q2 September 2019 over Q2 September 2018.

The result was announced on Saturday, 19 October 2019. Meanwhile, the S&P BSE Sensex was down 1 points or 0.00% to 39296.92.

The bank's gross non-performing assets (NPAs) stood at Rs 12508.15 crore as on 30 September 2019 as against Rs 11768.95 crore as on 30 June 2019 and Rs 10097.73 crore as on 30 September 2018.

The ratio of gross NPAs to gross advances stood at 1.38% as on 30 September 2019 as against 1.40% as on 30 June 2019 and 1.33% as on 30 September 2018.

The ratio of net NPAs to net advances stood at 0.42% as on 30 September 2019 as against 0.43% as on 30 June 2019 and 0.40% as on 30 September 2018.

The bank's provisions and contingencies rose 48.39% to Rs 2700.68 crore in Q2 September 2019 over Q2 September 2018.

Total deposits as of 30 September 2019 were Rs 10,21,615 crore, an increase of 22.6% over 30 September 2018. Total advances as of 30 September 2019 were Rs 896,984 crore, an increase of 19.5% over 30 September 2018.

CASA deposits grew by 14.7% with savings account deposits at Rs 264,445 crore and current account deposits at Rs 136,791 crore. Time deposits were at 620,380 crore, an increase of 28.3% over the previous year, resulting in CASA deposits comprising 39.3% of total deposits as of 30 September 2019.

The bank's continued focus on deposits helped in the maintenance of a healthy liquidity coverage ratio at 133%, well above the regulatory requirement.

On the BSE, 37,955 shares were traded in the counter so far compared with average daily volumes of 1.90 lakh shares in the past two weeks. The stock hit a high of Rs 1257 and a low of Rs 1241.7 so far during the day.

The stock hit a 52-week high of Rs 1285 on 23 Sep 2019. The stock hit a 52-week low of Rs 942.2 on 31 Oct 2018.

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