News

Published: April 20, 2024
Updated: April 20, 2024

HDFC Bank Reports Record Q4 Profits and Dividend Declaration

Strong Financial Performance

In a remarkable display of financial prowess, HDFC Bank has announced a staggering 37.05% surge in its standalone net profit for the January-March quarter, reaching an impressive Rs 16,511.85 crore.

Robust Revenue Growth

The bank's net revenue witnessed an astounding 47.3% growth, totaling Rs 47,240 crore for the quarter, buoyed by substantial transaction gains, notably from the stake sale in subsidiary HDFC Credila Financial Services Ltd.

Dividend Delight

Not content with just record profits, HDFC Bank declared a generous dividend of Rs 19.50 per equity share, delighting its shareholders.

Solid Fundamentals

With a core net interest margin standing at 3.44% on total assets and 3.63% on interest-earning assets, HDFC Bank continues to exhibit robust fundamentals, further underpinning its position as the country's largest private sector lender.

Consolidated Strength

On a consolidated basis, the bank's net profit soared to Rs 17,622.38 crore, marking an impressive 39.92% increase from the previous year's figures.

Diversified Revenue Streams

The bank's other income witnessed a remarkable surge, reaching Rs 18,170 crore, demonstrating the effectiveness of its diversified revenue streams.

Healthy Credit Performance

Credit performance across all segments remains healthy, with gross non-performing assets (GNPA) showing improvement, standing at 1.24%.

Shareholder Bonanza

The declaration of a substantial dividend of Rs 19.50 per equity share underscores HDFC Bank's commitment to creating value for its shareholders.

Market Response

The market responded positively to HDFC Bank's stellar performance, with its shares closing at Rs 1,531.30, reflecting a 2.46% increase on April 19th.

HDFC Bank's record-breaking financial performance for the Q4 of FY 2023-24 reaffirms its status as a powerhouse in the banking sector. With robust revenue growth, solid fundamentals, and a commitment to shareholder value, HDFC Bank continues to set new benchmarks for excellence in the industry.