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. | |||
| Particulars | Sep’2019 | Sep’2018 | Growth |
| Profit after tax (PAT) | 6,345 | 5,006 | 26.75% |
| Net Interest Income | 13,515 | 11,763 | 14.89% |
| Other Income | 5,589 | 4,015 | 39.18% |
| Deposits | 10,21,615 | 8,33,291 | 22.60% |
| 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.