HDFC Bank - Q4FY13 result First Cut - Microsec

HDFC Bank Ltd announced its Q4FY13 result on 23rd April 2013.

The bank's total income increased by 3.21% QoQ and 17.51% YoY to INR6098.89 crores, driven by YoY growth in its Net Interest Income (NII) and Other Income (OI) by 20.61% and 10.73% respectively. Whereas, Profit After Tax (PAT) increased by 1.66% QoQ and 30.06% YoY to INR1889.84 crores. Bank has decreased its provision by 25.79% QoQ and 26.99% YoY to INR300.54 crores, which helped it to maintain 30% growth in its bottom line.

During the quarter, bank's loan book and total deposits expanded by 22.67% and 20.08% YoY to INR239720.64 and INR296246.98 crores respectively. On the asset quality front, bank has improved its asset quality. GNPA improved by 3bps QoQ and 5bps YoY to 0.97% while, NNPA remained flat at 0.20%. Moreover, Net Interest Margin (NIM) has been improved by 20bps QoQ and 10bps YoY to 4.50%. Moreover, bank is well capitalized to support its growth trajectory. Capital Adequacy Ratio (CAR) stood at 16.80% which is 7.80% higher than the regulator's stipulated norm. Bank is in well position to tame any time liabilities with 80% of its Provision Coverage Ratio (PCR).

In FY13, bank's topline increased by 21.40% YoY to INR22663.74 crores whereas, bottom line increased by 30.19% YoY to INR6727.28 crores.

For the year ended March 31, 2013, the Board of Directors have recommended a dividend of Rs. 5.50 per equity share of Rs. 2/- each (i.e. 275%).

Source : Equity Bulls

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