HDFC Bank Q4 results: Net profit up 22.8% YoY to over Rs 10,000 crore

HDFC Bank on Saturday announced that its standalone net profit jumped 22.8 per cent to Rs 10,055.2 crore for the quarter ended March 31, 2022. HDFC Bank had posted a net profit of Rs 8,186.5 crore in the year-ago period. Meanwhile, net profit for the year ended March 31, 2022 was Rs 36,961.3 crore. It was up 18.8 per cent over the year ended March 31, 2021.

The bank's Net Interest Income (NII) rose 10.2 per cent to Rs 18,872.7 crore in the January-March quarter. The same stood at Rs 17,120.2 crore in the quarter ended March 31, 2021.

The bank's net revenues, net interest income plus other income, rose by 7.3 per cent to Rs 26,509.8 crore for the January-March quarter from Rs 24,714.1 crore for the quarter ended March 31, 2021.

Advances were up 20.8 per cent, with the growth coming across products and segments. Core net interest margin was at 4.0 per cent on total assets, and 4.2 per cent based on interest-earning assets. 

Gross non-performing assets (NPAs) were at 1.17 per cent of gross advances as of March 31, 2022, as against 1.26 per cent as of December 31, 2021, and 1.32 per cent as of March 31, 2021. Net nonperforming assets were at 0.32 per cent of net advances as of the end of the January-March quarter. 

"We continued to add new liability relationships at a robust pace of 2.4 million during the quarter. Liquidity coverage ratio was healthy at 112%, well above the regulatory requirement," noted HDFC Bank in an official statement. 

The bank added 563 branches and 7,167 employees during the quarter and 734 branches and 21,486 employees during the year. "This, and other investments made during the year, will position the bank to capitalise on the growth opportunity," it noted. 

Operating expenses for the quarter ended March 31, 2022 were Rs 10,152.8 crore, an increase of 10.6 per cent over Rs 9,181.3 crore during the corresponding quarter of the previous year. The cost-to-income ratio for the quarter was at 38.3 per cent. 

HDFC Bank's total balance sheet size as of March 31, 2022 was Rs 2,068,535 crore as against Rs1,746,871 crore as of March 31, 2021, a growth of 18.4 per cent.  CASA deposits grew by 22.0 per cent with savings account deposits at Rs 511,739 crore and current account deposits at Rs 239,311 crore.

Also read: HDFC Bank, others stop offering trade credit for oil imports to Nayara Energy

Also read: HDFC moves NCLT against SITI Networks claiming default of Rs 296 cr