HDFC - Q4FY13 Result - Nirmal Bang

- Result were in line with expectation

- NII increased 30.6% QoQ and 13.6% YoY to Rs 2121.4 cr

- PAT increased 36.4% QoQ and 17.3% YoY

- The stock is trading at 5.38x P/ABV which we believe is fairly valued

- The company also operates in life insurance, general insurance and asset management business which is reported in consolidated numbers.

- Consolidated PAT increased 33.5% QoQ and 16.8% YoY

Source : Equity Bulls

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