HDFC Bank Q3 results: Net profit up 2% at Rs 17,657 crore; total income slips

HDFC Bank Ltd on Wednesday recorded a 2.31 per cent rise, year-on-year (YoY), in its consolidated net profit for the December 2024 quarter (Q3 FY25). During the quarter under review, profit came at Rs 17,656.61 crore as against Rs 17,257.87 crore in the year-ago period.

The private lender's total income, however, slipped 2.45 per cent to Rs 1,12,193.94 crore from Rs 1,15,015.51 crore in the corresponding period last fiscal. Total expenditure came at Rs 84,263.78 crore in Q3 FY25, down 5.50 per cent YoY.

The bank said its net interest income (interest earned - interest expended) in Q3 FY25 grew by 7.7 per cent to Rs 30,650 crore YoY. Core net interest margin was at 3.43 per cent on total assets and 3.62 per cent based on interest earning assets.

Deposits were at Rs 24.53 lakh crore in December 2024, up 15.9 per cent on a YOY basis.

HDFC Bank's provisions for bad loans and other contingencies came at Rs 3,154 crore in Q3 FY25. Its gross non-performing assets (NPAs) ratio was at 1.42 per cent at the end of December last year.

The stock turned positive after the quarterly results and was last seen trading 1.32 per cent higher at Rs 1,663.50. It saw high trading volume on BSE today as around 13.19 lakh shares changed hands in the fag-end deals. The figure was way more than the two-week average volume 4.03 lakh shares. Turnover on the counter came at Rs 217.87 crore, commanding a market capitalisation (m-cap) of Rs 12,71,226.53 crore.

On technical setup, the counter traded higher than the 5-day, 10-day and 200-day simple moving averages (SMAs) but lower than the 20-day, 30-, 50-, 100-day and 150-day SMAs. The counter's 14-day relative strength index (RSI) came at 40.32. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The stock has a price-to-equity (P/E) ratio of 19.06 against a price-to-book (P/B) value of 2.73. Earnings per share (EPS) stood at 86.14 with a return on equity (RoE) of 14.31.