HDFC Bank inches higher after Q4 earnings

HDFC Bank rose 0.12% to Rs 2293 at 11:10 IST on BSE after net profit rose 22.63% to Rs 5,885.12 crore on 22.13% rise in total income to Rs 31,204.46 crore in Q4 March 2019 over Q4 March 2018.

The result was announced on Saturday, 20 April 2019.

Meanwhile, the S&P BSE Sensex was down 251.52 points, or 0.64% to 38,888.76.

On the BSE, 89,000 shares were traded in the counter so far compared with average daily volumes of 3.71 lakh shares in the past two weeks. The stock had hit a high of Rs 2330 and a low of Rs 2280 so far during the day. The stock hit a 52-week high of Rs 2,332.35 on 1 April 2019. The stock hit a 52-week low of Rs 1,884.40 on 31 October 2018.

The bank's gross non-performing assets (NPAs) stood at Rs 11,224.16 crore as on 31 March 2019 as against Rs 10,902.86 crore as on 31 December 2018 and Rs 8,606.97 crore as on 31 March 2018.

The ratio of gross NPAs to gross advances stood at 1.36% as on 31 March 2019 as against 1.38% as on 31 December 2018 and 1.30% as on 31 March 2018.

The ratio of net NPAs to net advances stood at 0.39% as on 31 March 2019 as against 0.42% as on 31 December 2018 and 0.40% as on 31 March 2018..

The bank's provisions and contingencies rose 22.59% to Rs 1,889.22 crore in Q4 March 2019 over Q4 March 2018.

HDFC Bank said that its board of directors has approved the issue of perpetual debt instruments (part of Additional Tier I capital), Tier II capital bonds and long term bonds (financing of infrastructure and affordable housing) up to a total amount of up to a total amount of Rs 50,000 crore in the period of next twelve months through private placement mode, subject to the approval of the shareholders at the ensuing annual general meeting of the bank and any other regulatory approvals as applicable.

HDFC Bank caters to a wide range of banking services covering commercial and investment banking on the wholesale side and transactional / branch banking on the retail side.

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