HDFC Bank - Q3FY14 Result Update - Microsec

HDFC Bank Ltd. announced its Q3FY14 result on 17th January 2014.

The Bank's total income increased by 7.31% QoQ and 14.78% YoY to INR6783.04 crores, driven by 16.40% and 11.44% YoY growth in its Net Interest Income (NII) and Other Income respectively. Whereas, Profit After Tax (PAT) increased by 17.32% QoQ and 25.10% YoY to INR2325.70 crores.

The Bank's loans book and total deposits expanded by 22.88% and 22.91% YoY to INR296741.61 and INR349215.16 crores respectively. On the asset quality front, Gross NPA improved by 10bps QoQ to 1% while, Net NPA remained flat at 0.30% on QoQ basis. However, the Bank's low cost deposits base (CASA ratio) decreased by 130bps QoQ and 170bps YoY 43.70% which has put pressure on its Net Interest Margin (NIM) which reduced by 10bps QoQ to 4.2%. Apart from that, the Bank is well capitalized to support its growth trajectory with 14.70% of its Basel III Capital Adequacy Ratio (CAR), which is 570bps higher than the regulator's stipulated norm.

Source : Equity Bulls

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