Countries second largest private sector lender HDFC Bank has announced its results on 19th Oct’2019
Quarterly results review:
Growth: 26.75% Year on year (YOY) growth in profit
Brief Summary of Result:
|Fig in Cr.|
|Profit after tax (PAT)||6,345||5,006||26.75%|
|Net Interest Income||13,515||11,763||14.89%|
|Provisions & Contingency||2,701||1,820||48.39%|
|NPA % to Gross Advance||1.38%||1.40%|
|NPA % to New Advance||0.42%||0.43%|
|Cost to Income Ratio||38.80%||39.90%|
Data Source: BSE Listing
The stock has rallied 16% Year to date (YTD) outperforming Nifty50 as well as Bank nifty which has gained >7%.
Given the good numbers on board, market should react positivitely on Monday. We have a buy recommendation on this stock.