India’s largest private lender, HDFC Bank, has delivered another impressive financial performance for the second quarter (Q2) of FY 2024-25, with the HDFC Bank Q2 results 2024 date confirmed. The bank reported a 17.4% rise in its consolidated net profit to ₹17,830 crore. This substantial growth reflects the bank’s consistent ability to navigate a challenging economic landscape while maintaining strong fundamentals.
HDFC Bank Q2 Results 2024 Date: Consolidated Performance Overview**
For the quarter ending on September 30, 2024, HDFC Bank‘s consolidated net profit saw a significant increase, rising from ₹16,811 crore in the same period last year to ₹17,830 crore this year. The consolidated revenue for Q2FY25 surged by 14.7% YoY, reaching ₹76,040 crore, compared to ₹66,320 crore in the corresponding quarter of FY24. This growth was driven by both a rise in core operations and other income streams, reflecting the robust nature of the bank’s financial structure.
Standalone Performance Breakdown
On a standalone basis, HDFC Bank reported a net profit of ₹16,821 crore, reflecting a 5% YoY increase compared to the previous fiscal’s ₹15,976 crore. The standalone revenue saw a similar positive trend, growing by 9.2% YoY to ₹41,600 crore from ₹38,090 crore. This strong performance highlights the bank’s ability to sustain profitability even amid broader economic challenges, such as fluctuating interest rates and inflationary pressures. HDFC Bank Q2 Results 2024 Date.
Total Income and Non-Interest Revenue
The total income for HDFC Bank during Q2FY25, which includes interest income, income from investments, and other revenue streams, stood at ₹85,500 crore, showing a 9% YoY growth from ₹78,406 crore in Q2FY24.
Non-interest revenue, which encompasses fees, commissions, and other income sources, rose to ₹11,480 crore, a 7.2% increase compared to ₹10,710 crore in the same quarter of the previous year. This diversification of revenue sources is a testament to HDFC Bank’s ability to generate profits from non-core activities, further boosting its overall financial stability. HDFC Bank Q2 Results 2024 Date.
HDFC Bank NII Rises by Nearly 10%
Net interest income (NII), a critical metric for banks, surged by 9.9% YoY to ₹30,110 crore in Q2FY25, up from ₹27,390 crore in the corresponding period of FY24. This uptick was driven by growth in loans, coupled with a stable net interest margin (NIM) of 3.46% on total assets and 3.65% on interest-earning assets. The bank’s ability to maintain healthy margins while expanding its loan book has been a significant factor in its consistent profitability. HDFC Bank Q2 Results 2024 Date.
Provisions and Contingencies
HDFC Bank also reported a decline in its provisions and contingencies for Q2FY25, with a total of ₹2,700 crore set aside compared to ₹2,900 crore in the same quarter last year. This reduction in provisions reflects the bank’s improved asset quality and lower risk exposure, further cementing its position as a leader in the private banking sector. HDFC Bank Q2 Results 2024 Date.
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Asset Quality: GNPA and NNPA Ratios
The bank’s gross non-performing assets (GNPA) ratio increased slightly to 1.36% of total loans, compared to 1.34% in the year-ago period. However, the net NPA (NNPA) ratio rose marginally to 0.41% in Q2FY25, up from 0.35% in Q2FY24. While these figures represent a slight uptick in bad loans, HDFC Bank’s strong provisioning and risk management strategies have helped mitigate the impact on overall profitability. HDFC Bank Q2 Results 2024 Date.
HDFC Bank’s Deposits and Advances Surge
HDFC Bank’s total deposits grew by an impressive 15.1% YoY, reaching ₹25,00,100 crore as of September 2024. This growth was driven by a combination of higher savings and current account deposits, which rose by 8.1% YoY. Specifically, savings deposits stood at ₹6,08,100 crore, while current account deposits reached ₹2,75,400 crore. HDFC Bank Q2 Results 2024 Date.
On the lending side, gross advances increased by 7% YoY, totalling ₹25,19,000 crore in Q2FY25. This growth was primarily fuelled by a strong demand for retail loans, which surged by 11.3%, and commercial and rural banking loans, which saw an impressive 17.4% growth. However, corporate and wholesale loans experienced a 12% decline, reflecting cautious lending in the corporate sector amid macroeconomic uncertainties. HDFC Bank Q2 Results 2024 Date.
Overseas Advances
HDFC Bank’s overseas advances accounted for 1.7% of total advances, contributing to the overall growth of the bank’s loan portfolio. The bank continues to strategically diversify its lending operations across various geographies, while maintaining a cautious approach to international markets. HDFC Bank Q2 Results 2024 Date.
Conclusion
HDFC Bank’s Q2FY25 results underline the bank’s ability to deliver robust financial performance across key metrics, even in the face of challenging economic conditions. With a significant rise in net profit, increased deposits, and strong loan growth, the bank continues to be a dominant force in India’s private banking sector. However, the slight uptick in non-performing assets indicates that prudent risk management will be crucial in the coming quarters. HDFC Bank Q2 Results 2024 Date.
FAQs About HDFC Bank’s Q2FY25 Results
1. What is HDFC Bank’s net profit for Q2FY25?
HDFC Bank reported a consolidated net profit of ₹17,830 crore, a 17.4% increase from ₹16,811 crore in Q2FY24.
2. How much did HDFC Bank’s total income grow in Q2FY25?
HDFC Bank’s total income rose by 9% YoY, reaching ₹85,500 crore in Q2FY25, up from ₹78,406 crore in Q2FY24.
3. What is the bank’s net interest income (NII) for Q2FY25?
The net interest income (NII) increased by 9.9% YoY to ₹30,110 crore, compared to ₹27,390 crore in Q2FY24.
4. Did HDFC Bank’s provisions and contingencies decline in Q2FY25?
Yes, provisions and contingencies for Q2FY25 decreased to ₹2,700 crore, down from ₹2,900 crore in the same quarter last year.
5. How much did HDFC Bank’s total deposits grow in Q2FY25?
HDFC Bank’s total deposits grew by 15.1% YoY to ₹25,00,100 crore in Q2FY25.
