HDFC Bank Q2 Results FY2023, PAT at Rs. 10,605.8 crores

HDFC Bank Q2 Results FY2023

Corporate Action
by Shreya Anaokar Last Updated: 2022-10-17T16:12:45+05:30

On 15th October 2022, HDFC Bank announced its second quarter results for the period ending 30th September 2022. 

Q2FY23 Performance updates:

- The Bank's core net revenue, grew by 18.3% to Rs. 28,869.8 crore for the Q2FY23.
- The total net revenues (net interest income plus other income) were Rs. 28,616.7 crore for the Q2FY23. 
- Net interest income for the Q2FY23 grew by 18.9% to Rs. 21,021.2 crore 
- Core net interest margin was at 4.1% on total assets, and 4.3% based on interest earning assets
- The total credit cost ratio was at 0.87%
 - Profit before tax (PBT) for the Q2FY23 was at Rs. 14,152.0 crore.
- The Bank reported a net profit of Rs. 10,605.8 crore, an increase of 20.1% for Q2FY22.
- Total balance sheet size was Rs.  2,227,893 crore, with a growth of 20.8%. 


Business Highlights:

- Total Deposits showed a healthy growth and were at Rs. 1,673,408 crore, an increase of 19.0% YoY. 
- CASA deposits grew by 15.4% with savings account deposits at Rs. 529,745 crore and current account deposits at 229,951 crore. 
- Time deposits were at Rs. 913,712 crore, with an increase of 22.1% YoY, resulting in CASA deposits comprising 45.4% of total deposits.
- Total advances were at Rs.1,479,873 crore, an increase of 23.4% YoY. 
- Gross of transfers through inter-bank participation certificates and bills rediscounted, total advances grew by around 25.8% YoY.
- 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%.
- Overseas advances constituted 3.1% of total advances. 
- The Bank's total Capital Adequacy Ratio (CAR) was at 18.0% for Q2FY23 as against a regulatory requirement of 11.7% which includes Capital Conservation Buffer of 2.5%.
- The 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.
- Gross non-performing assets were at 1.23% of gross advances for Q2FY23, as against 1.35% for Q2FY22. Net non-performing assets were at 0.33% of net advances for Q2FY23. 

Consolidated Financial Results:

- The consolidated net profit for Q2FY23 was Rs. 11,125 crore, up 22.3%, for Q2FY22. 
- Consolidated advances grew by 22.8% from Rs.1,249,331 crore for Q2FY22 to 1,533,945 crore for Q2FY23. 
- The consolidated net profit for the half year ended September 30, 2022 was Rs. 20,704 crore, up 21.7%, over the half year ended September 30, 2021. 
 

Post-results the HDFC Bank share price went up by 0.52%


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About the Author

Shreya Anaokar is a Content Writer at 5paisa. She has completed her Master’s in Finance and Graduation in Statistics from the University of Mumbai. 

Disclaimer

Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.

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