HDFC Bank Q4 Results: Core income grows 4%, asset quality improves

HDFC Bank Ltd. reported its fourth quarter earnings on Saturday, April 18.

Its net profit increased 9.1% to ₹19,221 crore from ₹17,616 crore in the year-ago period. It was also above Street estimates of ₹19,024.8 crore.

The lender's net interest income (NII) came in at ₹33,281.5 crore for the fourth quarter compared to the CNBC-TV18 poll of ₹33,738 crore. It was 3.8% more than the previous year's ₹32,066 crore.

HDFC Bank's asset quality improved in the fourth quarter. Its net non-performing assets (NPA) contracted to 0.38% from 0.42% in the previous quarter. Its net NPA was at ₹11,169.5 crore compared to ₹11,981.8 crore in the previous quarter.

Its gross NPA declined to 1.15% from 1.24% sequentially. It fell to ₹34,061.2 crore in the fourth quarter from ₹35,179 crore in the previous quarter.

The lender's provisions were at ₹2,609.6 crore compared to ₹2,837.9 crore in the previous quarter and ₹3,193 crore in the year-ago period.

HDFC Bank's board has also recommended a final dividend of ₹13 per share.

Shares of HDFC Bank ended the previous session 0.6% up at ₹800 apiece. The stock has declined 5% in the past month and is down 19.3% this year, so far.

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