HDFC Bank Q1 net profit at Rs.321.23 Crores, EPS at Rs.10

HDFC Bank Ltd has announced the unaudited financial results for the quarter ended June 30, 2007. The Bank has posted a net profit of Rs 3212.30 million for the quarter ended June 30, 2007 as compared to Rs 2393.00 million for the quarter ended June 30, 2006.

Total Income has increased from Rs 17952.10 million for the quarter ended June 30, 2006 to Rs 26417.00 million for the quarter ended June 30, 2007.

During the quarter ended June 30, 2007 the bank opened 69 branches and 111 ATMs taking the total number of branches and the ATMs to 753 branches and 1716 ATMs respectively.

During the quarter ended June 30, 2007, the bank obtained the Board approval and shareholder approval to raise equity share capital of US$ 1 billion or Rs 42000 million, whichever is higher as domestic public offering or as public or private offerings in one or more international markets. Approvals from the Board and shareholders were sought to allot 1,35,82,000 equity shares of Rs 10/- each at a premium of Rs 1013.49 per share on a preferential basis to HDFC Ltd. aggregating to Rs 13901 million. The said allotment was done on June 29, 2007.

The stock was trading at Rs.1150.20, down by Rs.17.90 or 1.53%. The stock hit an intraday high of Rs.1185.95 and low of Rs.1147. The total traded quantity was 87420 compared to 2 week average of 97556.

Source : Equity Bulls

Keywords