HDFC Bank recovers after announcing good Q2 results

HDFC Bank fell 0.78% to Rs 1,255.55 at 13:52 IST on BSE after the bank reported 20.41% rise in net profit to Rs 3455.33 crore on 15.27% growth in total income to Rs 19970.89 crore in Q2 September 2016 over Q2 September 2015.

The result was announced during market hours today, 25 October 2016.

Meanwhile, the S&P BSE Sensex was down 112.13 points or 0.4% at 28,066.95

On BSE, so far 1.02 lakh shares were traded in the counter as against average daily volume of 94,798 shares in the past one quarter. The stock was volatile. The stock hit a high of Rs 1,265.50 and a low of Rs 1,244.75 so far during the day. The stock had hit a 52-week high of Rs 1,318.20 on 23 September 2016. The stock had hit a 52-week low of Rs 928.80 on 29 February 2016. The stock had underperformed the market over the past 30 days till 24 October 2016, falling 3.64% compared with 1.71% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 2.16% as against Sensex's 0.72% rise.

The large-cap bank has equity capital of Rs 509.13 crore. Face value per share is Rs 2.

HDFC Bank's net interest income, the difference between interest earned and interest expended, grew by 19.6% to Rs 7993.60 crore in Q2 September 2016 over Q2 September 2015.

HDFC Bank's gross non-performing assets (NPAs) stood at Rs 5069.04 crore as on 30 September 2016 compared with Rs 4920.89 crore as on 30 June 2016 and Rs 3827.77 crore as on 30 September 2015. The ratio of gross NPAs to gross advances stood at 1.02% as on 30 September 2016 as against 1.04% as on 30 June 2016 and 0.91% as on 30 September 2015. The ratio of net NPAs to net advances stood at 0.3% as on 30 September 2016 as against 0.32% as on 30 June 2016 and 0.25% as on 30 September 2015.

HDFC Bank's total deposits rose 16.7% to Rs 5.91 lakh crore while total advances rose 18.1% to Rs 4.94 lakh crore in Q2 September 2016 over Q2 September 2015.

HDFC Bank's provisions and contingencies rose 9.94% to Rs 748.99 crore in Q2 September 2016 over Q2 September 2015.

HDFC Bank is one of the leading private sector banks in India. As of 30 September 2016, the bank's distribution network was at 4,548 branches and 12,016 ATMs across 2,596 cities/towns.

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