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HDFC Bank net up 20.6% to Rs 50 bn in Sep quarter; gross NPAs rise 1.33%
Posted on 20th October 2018
Private lender HDFC Bank on Saturday reported a 20 per cent increase in its net profit to Rs 50.05 billion during the quarter ended September.

The bank's performance was in line with estimates, especially with healthy growth in the net interest income. The private sector lender had registered a net profit of Rs 41.51 billion in the July-September quarter of 2017-18 (FY18).

Net interest income (interest earned less interest expended) for the quarter grew by 20.6 per cent to Rs 117.63 billion from Rs 97.52 billion earlier.

Net interest margin stood at 4.3 per cent during the period against 4.2 per cent in the previous quarter and 4.3 per cent in the year-ago quarter.

Asset quality for the September quarter was steady sequentially but fell against the year-ago quarter. Gross non-performing assets (GNPAs) as a percentage of gross advances stood at 1.33 per cent as on September 2018, compared to 1.33 per cent as on June 2018 and 1.26 per cent as on September 2017. Net non-performing assets (NPAs) or bad loans were at 0.4 per cent of net advances as on 30 June 2018, down from 0.43 per cent a year ago.

Provisions and contingencies for the quarter stood at Rs 18.2 billion, up by 23 per cent as against Rs 14.76 for the year-ago quarter. This stood at Rs 16.29 billion in the previous quarter.

Total deposits for the quarter grew 20.9 per cent to Rs 8.3 trillion, while total advances increased by 24 per cent to Rs 7.50 trillion over the last year’s September quarter. “The focus on deposits has helped in maintenance of a healthy liquidity coverage ratio at 118 per cent, much above the regulatory requirement,” said the bank in a regulatory filing.

The HDFC Bank’s total Capital Adequacy Ratio (CAR) stood at 17.1 per cent as on September 2018 against 15.1 per cent as on September 2017.

Related Companies: HDFC Bank   

Other Latest News
NTPC Q4 profit jumps 48.7 pc to Rs 4,350.32 cr; announces 25 pc final dividend
Posted on 25th May 2019
New Delhi: State-run power giant NTPC on Saturday posted a 48.7 per cent jump in its standalone net profit at Rs 4,350.32 crore for the March quarter compared to the year-ago period mainly on the back of lower expenses.

The company's standalone net profit in January-March 2018 was Rs 2,925.59 crore, an NTPC statement said.


Why FPIs may find debt market more attractive after easing of norms by RBI
Posted on 25th May 2019
The Indian debt market could attract higher interest from foreign portfolio investors (FPIs), with the Reserve Bank of India (RBI) on Friday easing investment norms through the voluntary retention route (VRR), rolled out since March 2019.

The RBI waived off the requirement for FPIs to invest a minimum 25% of the committed portfolio size (CPS) within one month of allotment. It introduced an additional category, VRR combined, which allows investors to invest in both corporate and sovereign bonds.


NIIT Ltd Q4 net profit up 18 pc to Rs 23 crore
Posted on 25th May 2019
New Delhi: NIIT Ltd on Saturday said its consolidated net profit rose 18 per cent to Rs 23.2 crore in the March quarter, helped by increased productivity and turnaround in its skills and careers (SNC) business.

The skill development and talent development firm had posted a net profit of Rs 19.7 crore in the year-ago period.


DLF’s operating cash flow to rise in coming quarters
Posted on 25th May 2019
DLF’s net sales bookings stood at `650 crore in Q4 – ahead of expectation for `600 crore. The mManagement guided for conservative 10% growth in pre-sales in FY20 mainly due to subdued NCR market and very low inventory in Crest project which contributed significantly to sales in FY19. Management guided for exit rentals of `37.5-40 bn at DCCDL (`27 bn currently), driven by addition of `4.5 bn of rentals from commencement of Cyberpark and Rs 4.25 bn of rentals from transfer of assets from DLF.

ITC Q4 results broadly in line with estimates
Posted on 25th May 2019
Q4 was broadly an in-line quarter led by modest performance in core cigarette business (8% volume growth/2-year CAGR at 2.5% and 10% Ebit growth), sustained profitability enhancement in FMCG and broad-based robust growth in other businesses. Punitive taxation notwithstanding, we believe, improving volume trajectory and pricing action in core cigarette business remain key catalysts. Inexpensive valuations (our reverse math suggests core cigarette business adjusted for other parts in our SoTP valuation trades at 21x Mar-21e earnings) and undemanding expectations lend additional comfort.

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