HDFC Bank Q3 results: Profit rises 2% YoY to Rs 16,736 cr; shares up 1%

HDFC Bank Q3 results: On the bourses, HDFC Bank share price recovered sharply from the day's low after the announcement of Q3 results as the bottomline was better than Street estimates

HDFC Bank Q3 results: HDFC Bank, India’s biggest private lender, on Wednesday reported a standalone net profit of Rs 16,735.5 crore for the October-December quarter (Q3) of the current financial year (FY25). 

This was a 2.2 per cent year-on-year (Y-o-Y) growth over Rs 16,372.5 crore profit reported in Q3FY24.

 

Sequentially, the profit slipped marginally from Rs 16,820.9 crore. 

 

On the bourses, HDFC Bank share price recovered sharply from the day’s low after the announcement of Q3 results as the bottomline was better than Street estimates. 

 

At the top end of the estimate, analysts estimated HDFC Bank’s Q3 profit growth to rise up to 2 per cent Y-o-Y. In fact, they expected the PAT to drop up to 6 per cent quarter-on-quarter (Q-o-Q).

 

HDFC Bank share rose 1.7 per cent intraday to hit a high of Rs 1,670.25 per share. From the day’s low of Rs 1,625.3, the stock recovered 2.7 per cent.

 

The recovery in HDFC Bank stock also helped stock markets trim their losses. The Nifty Bank index turned postive after HDFC Bank Q3 results, ans was ruling 0.3 per cent higher at 48,722 at 3:00 PM. It touched a low of 48,074 in the intraday trade.    ALSO READ: Polycab India Q3 results: Profit rises 10.8% at Rs 457 cr, revenue up 20%

 

Operationally, HDFC Bank’s net interest income (NII) came at Rs 30,653 crore in Q3FY25, clocking an 8-per cent Y-o-Y surge over NII of Rs 28,471.3 crore seen in the corresponding quarter of the previous financial year.

 

Analysts estimated HDFC Bank’s NII to rise up to 7 per cent Y-o-Y. Meanwhile,net interest margin (NIM) came at 3.43 per cent in Q3FY25 as against 3.4 per cent Y-o-Y and 3.46 per cent Q-o-Q. 

HDFC Bank's asset quality, however, worsened during the quarter with the gross non-performing asset ratio (GNPA) rising to 1.42 per cent from 1.36 per cent Q-o-Q. GNPA ratio was at 1.26 per cent Y-o-Y.

 

Net NPA ratio, too, increased to 0.46 per cent from 0.41 per cent Q-o-Q and 0.31 per cent Y-o-Y.

  Provisions and Contingencies, meanwhile, surged to Rs 3,135.8 crore from Rs 2,700.5 crore set aside in Q2FY25. On a yearly basis, though, provisions were down from Rs 4,216.6 crore.