The private lender's net profit rose 20.1% to Rs 10605.78 crore on 19.2% increase in total income to Rs 46181.96 crore in Q2 FY23 over Q2 FY22.
The bank's profit before tax (PBT) rose 19.1% year on year to Rs 14152.04 crore in the quarter ended 30 September 2022.The bank's provisions and contingencies (excluding tax provisions) declined 17.4% to Rs 3240.13 crore in Q2 FY23 over Q2 FY22.
The bank's gross non-performing assets (NPAs) stood at Rs 18301 crore as on 30 September 2022 as against Rs 18033.67 crore as on 31 June 2022 and Rs 16346.07 crore as on 30 September 2021.
The ratio of gross NPAs to gross advances stood at 1.23% as on 30 September 2022 as against 1.28% as on 31 June 2022 and 1.35% as on 30 September 2021.
The ratio of net NPAs to net advances stood at 0.33% as on 30 September 2022 as against 0.35% as on 31 June 2022 and 0.40% as on 30 September 2021.
Net interest income (interest earned less interest expended) for the quarter ended 30 September 2022 grew by 18.9% to 21,021.2 crore from 17,684.4 crore for the quarter ended 30 September 2021. Core net interest margin was at 4.1% on total assets, and 4.3% based on interest earning assets.
Pre-provision Operating Profit (PPOP) was at 17,392.2 crore. PPOP, excluding trading and Mark to Market losses, grew by 16.6% over the quarter ended 30 September 2021.
The total credit cost ratio was at 0.87%, as compared to 1.30% for the quarter ending 30 September 2021.
Total advances as of 30 September 2022 were 3 1,479,873 crore, an increase of 23.4% over 30 September 2021. Domestic retail loans grew by 21.4%, commercial and rural banking loans grew by 31.3% and corporate and other wholesale loans grew by 27.0%.
Total deposits showed a healthy growth and were at 1,673,408 crore as of 30 September 2022, an increase of 19.0% over 30 September 2021. CASA deposits grew by 15.4%. CASA deposits comprised 45.4% of total deposits as of 30 September 2022.
As of 30 September 2022, HDFC Bank's distribution network was at 6,499 branches and 18,868 ATMs/Cash Deposit & Withdrawal Machines (CDMs) across 3,226 cities / towns as against 5,686 branches and 16,642 ATMs / CDMs across 2,929 cities / towns as of 30 September 2021.
Shares of HDFC Bank were down 0.47% to Rs 1,432.30 on the NSE.
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