HDFC Bank rises after good Q2 results

HDFC Bank rose 2.15% to Rs 2008.05 at 9:17 IST on BSE after net profit rose 20.59% to Rs 5005.73 crore on 21.2% rise in total income to Rs 28215.15 crore in Q2 September 2018 over Q2 September 2017.

The result was announced on Saturday, 20 October 2018.

Meanwhile, the S&P BSE Sensex was up 224.54 points, or 0.65% to 34,540.17.

On the BSE, 11,000 shares were traded in the counter so far compared with average daily volumes of 1.60 lakh shares in the past two weeks. The stock had hit a high of Rs 2020.45 and a low of Rs 2001 so far during the day.

The stock hit a 52-week high of Rs 2,219.05 on 18 July 2018. The stock hit a 52-week low of Rs 1,685 on 26 October 2017.

The bank's gross non-performing assets (NPAs) stood at Rs 10097.73 crore as on 30 September 2018 as against Rs 9538.62 crore as on 30 June 2018 and Rs 7702.84 crore as on 30 September 2017.

The ratio of gross NPAs to gross advances stood at 1.33% as on 30 September 2018 as against 1.33% as on 30 June 2018 and 1.26% as on 30 September 2017.

The ratio of net NPAs to net advances stood at 0.40% as on 30 September 2018 as against 0.41% as on 30 June 2018 and 0.43% as on 30 September 2017.

The bank's provisions and contingencies rose 23.29% to Rs 1819.96 crore in Q2 September 2018 over Q2 September 2017.

Provision coverage ratio of the bank was at 70% as on 30 September 2018.

Total deposits as of 30 September 2018 were Rs 8,33,364 crore, an increase of 20.9% over 30 September 2017. CASA deposits grew at 18.3% with savings account deposits growing by 18.7% over the previous year to reach Rs 2,34,568 crore and current account deposits growing by 17.7% over the previous year to reach Rs 1,15,131 crore.

As of 30 September 2018, the HDFC Bank's distribution network was at 4,825 banking outlets and 13,018 ATMs across 2,718 cities/ towns as against 4,729 banking outlets and 12,259 ATMs across 2,669 cities/ towns as of 30 September 2017.

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