HDFC Bank share gains most on Sensex, Nifty post Q4 earnings

HDFC Bank share was the top gainer on Sensex and Nifty in early trade today after the lender reported a 24.6% rise in its FY20 net profit. In Q4, the bank posted a 17.72 per cent year-on-year rise in net profit. Share price of HDFC Bank gained 5.49% or Rs 50 to Rs 960.85 compared to the previous close of Rs 910.40 on BSE.

On Nifty, the large cap stock gained 5.56% to Rs 960.95 against previous close of Rs 910.30. HDFC Bank stock hit its 52 week high of Rs 1,304 on December 19, 2019 and 52 week low of Rs 738.90 on March 24, 2020. Total 10.68 lakh shares amounting to turnover of Rs 99.30 crore changed hands on BSE.

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Market cap of HDFC Bank rose to Rs 3.83 lakh crore on BSE. HDFC Bank stock has gained 9.54% in the last 3 days. The stock opened with a gain of 4.6% at Rs 952.25 today. It has lost 17.12% during the last one year and fallen 25.38% since the beginning of this year. However, HDFC Bank stock has gained 7% in one week.

Net profit in FY20 rose to Rs 26,257.3 crore on rise in other income, operating income, net interest income and lower tax costs.

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The Mumbai-based bank reported net profit of Rs 21,078.14 crore in FY19. Net revenue (net interest income plus other income) rose 20.6 per cent to Rs 79,447.1 crore in FY20 against Rs 65,869.1 crore in FY19.

Net interest margin (NIM) stood at 4.3 per cent as against 4.19 per cent in the year-ago period. Asset quality improved during FY20, with gross non-performing assets (NPAs) ratio falling to 1.26 per cent against 1.36 per cent in the year-ago period. Net NPAs stood at 0.36 per cent compared to 0.39 per cent in FY19.

Net profit stood at Rs 6,927.69 crore in Q4 compared to Rs 5,885.12 crore a year ago. On a quarterly basis, however, the lender's net profit was lower than Rs 7,416.48 crore in Q3 of last fiscal.

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Net interest income, the difference between interest earned and interest expended, climbed 16.15 per cent YoY to Rs 15,204.06 crore in Q4 FY20, while net interest margin stood at 4.3 per cent during March quarter of FY20. For Q4FY20, net revenues increased 18.2 per cent YoY to Rs 21,236.6 crore, while other income (non-interest income) rose 23.84 per cent YoY to Rs 6,032.57 crore.