HDFC Bank - Q1FY13 result first cut - Microsec Research

HDFC Bank Ltd has announced its Q1FY13 result on July 13, 2012. The bank's total income increased by 2.73% QoQ and 26.35% YoY to INR5013.54 crores mainly, because of 22.33% and 36.56% YoY growth in its Net Interest Income (NII) and Other Income respectively. Whereas, the Profit After Tax (PAT) decreased by 2.46% QoQ and 30.66% YoY to INR1417.39 crores.

During the quarter, the bank's loans book and total deposits expanded by 21.5% and 21.97% YoY to INR2.13 and INR2.57 lakh crores. on the assets quality front, the bank has improved its assets quality. The bank's GNPA decreased by 5bps QoQ and 7bps YoY to 0.97% while, NNPA stood at 0.20%. The capital Adequacy Ratio (CAR) of the bank stood at 15.50%, which is 6.50% higher than the regulator stipulated norms. On the margin front, the bank's Net Interest Margin improved by 10bps sequentially as well as yearly to 4.30%. Moreover, the Provision Coverage Ratio (PCR) and CASA ratio satisfactorily stood at 81% and 46% respectively.

As on June 30, 2012, the total number of branches and ATM Network stood at 2564 branches and 9709 ATMs respectively.

Source : Equity Bulls

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