HDFC Bank gains in volatile trade after announcing strong Q2 results

HDFC Bank rose 0.01% to Rs 1,095.25 at 13:50 IST on BSE after net profit rose 20.49% to Rs 2869.45 crore on 24.68% rise in total income to Rs 17324.28 crore in Q2 September 2015 over Q2 September 2014.

The result was announced during market hours today, 21 October 2015.

Meanwhile, the S&P BSE Sensex was down 13.04 points or 0.05% at 27,293.79.

On BSE, so far 1.47 lakh shares were traded in the counter as against average daily volume of 1.04 lakh shares in the past one quarter.

The stock was volatile. At the day's high of Rs 1,103.90, the stock rose 0.78%. At the day's low of Rs 1,087.60, the stock declined 0.68%. The stock had hit a record high of Rs 1,127.90 on 21 July 2015. The stock had hit a 52-week low of Rs 887.70 on 30 August 2014.

The stock had outperformed the market over the past one month till 20 October 2015, rising 4.47% compared with 4.15% rise in the Sensex. The scrip had also outperformed the market in past one quarter, dropping 1.83% as against Sensex's 3.92% decline.

The large-cap bank has equity capital of Rs 503.64 crore. Face value per share is Rs 2.

On absolute basis, HDFC Bank's gross non-performing assets (NPAs) stood at Rs 3827.77 crore as on 30 September 2015, compared with Rs 3652.23 crore as on 30 June 2015 and Rs 3361.65 crore as on 30 September 2014. The ratio of gross NPAs to gross advances stood at 0.91% as on 30 September 2015 as against 0.95% as on 30 June 2015 and 1.02% as on 30 September 2014. The ratio of net NPAs to net advances stood at 0.25% as on 30 September 2015 as against 0.27% as on 30 June 2015 and 0.28% as on 30 September 2014.

Provisions and contingencies rose 49.44% to Rs 681.29 crore in Q2 September 2015 over Q2 September 2014. The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 15.5% as on 30 September 2015, compared with 15.7% as on 30 June 2015 and 15.7% as on 30 September 2014.

The bank's net interest income (NIM) grew 21.2% to Rs 6680.90 crore in Q2 September 2015 over Q2 September 2014, driven by average assets growth of 29% and a net interest margin for the quarter of 4.2%. Total deposits showed an increase of 29.7% to Rs 506909 crore as of 30 September 2015 over 30 September 2014. Advances rose 27.9% to Rs 418541 crore as of 30 September 2015 over 30 September 2014.

HDFC Bank is one of the leading private sector banks in India.

Powered by Capital Market - Live News