Check HDFC Bank Quarter2-2019 Results

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.


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