HDFC BANK
RESULTS FOR Q1 FY 2012-13
ENDING JUNE,2012
HDFC BANK has declared excellent results for the first quarter ending June,2012. The results
are analyzed below with comparison to the previous Quarter and the
corresponding quarter of FY 12:
HIGHLIGHTS
Total Income for the first quarter of FY 13 stands at Rs.9536.91 Cr
– against Rs.8880.02 cr in the previous quarter of Q4 FY 12 (Up by 7.4%) – and
against Rs.7098 Cr in Q1 FY 12 (Up by 34.36%).
Total Expenditure for the first
quarter of FY 13 stands at Rs.6955.97 cr – against Rs. 6466.81 Cr in the
previous quarter of Q4 FY 12 (Up by 7.56%)
– and against Rs.5064.64 Cr in Q1 FY 12
(Up by 37.34%). Expenditure has grown more than proportionately (slightly,
though) – compared to the growth in Income.
Profit before Intt, Dep
& Tax for the first quarter of FY 13 stands at
Rs.2580.94 cr – against Rs.2413.21 Cr in the previous quarter of Q4 FY 12 (Up
by 6.95%) – and against Rs.2033.36 Cr in Q1 FY 12 (Up by 26.93%). EBITDA has
grown reasonably decently compared to preceding quarter and corresponding
quarter.
Net Profit for the first quarter of FY 13 stands at Rs.1417.39 cr
– against Rs.1453.08 Cr in the previous quarter of Q4 FY 12 (Down by -2.46%) –
and against Rs.1084.98 Cr in Q1 FY 12 (Up by 30.64%).Net Profit is slightly
down compared to preceding Quarter – but is up 30.64%
Diluted EPS for the first quarter of FY 13 stands at Rs.6 against
Rs.6.1 in Q4 FY 12; and Rs.23 in Q1 FY12.
DETAILS
Interest on Advances for the first quarter stands at Rs.6063.51 cr –
against Rs.5610.13 Cr in the previous quarter of Q4 FY 12 (Up by 8.08%) – and
against Rs.4514.19 Cr in Q1 FY 12 (Up by
34.32%).
Income on Investments for the first quarter stands at Rs.1878.68 cr –
against Rs.1728.13 Cr in the previous quarter of Q4 FY 12 (Up by 8.71%) – and
against Rs.1410.70 Cr in Q1 FY 12 (Up by
33.17%).
Interest Earned for the first quarter of FY 13 stands at
Rs.8007.42 cr – against Rs.7388.04 Cr in the previous quarter of Q4 FY 12 (Up
by 8.38%) – and against Rs.5977.97 Cr in Q1 FY 12 (Up by 33.95%).
Other Income for the first
quarter of FY 13 stands at Rs.1529.49 cr – against Rs.1491.98 Cr in the
previous quarter of Q4 FY 12 (Up by 2.51%) – and against Rs.1120.03 Cr in Q1 FY
12 (Up by 36.56%).
Total Income for the first quarter of FY 13 stands at Rs.9536.91 cr
– against Rs.8880.02 Cr in the previous quarter of Q4 FY 12 (Up by 7.4%) – and
against Rs.7098 Cr in Q1 FY 12 (Up by 34.36%).
Interest Expended for the first
quarter of FY 13 stands at Rs.4523.37 cr – against Rs.3999.73 Cr in the previous
quarter of Q4 FY 12 (Up by 13.09%) – and against Rs.3130.01 Cr in Q1 FY 12 (Up
by 44.52%).
Net Interest Income for the first
quarter of FY 13 stands at Rs.3484.05 cr – against Rs.3388.31 Cr in the
previous quarter of Q4 FY 12 (Up by 2.83%) – and against Rs.2847.96 Cr in Q1 FY
12 (Up by 22.33%).
Total
Expdr(excl.prov&cont) for the first quarter of FY 13 stands at
Rs.6955.97 cr – against Rs. 6466.81 Cr in
the previous quarter of Q4 FY 12 (Up by 7.56%) – and against Rs.5064.64 Cr in Q1
FY 12 (Up by 37.34%).
Operating Profit for the
first quarter of FY 13 stands at Rs.2580.94 cr – against Rs.2413.21 Cr in the
previous quarter of Q4 FY 12 (Up by 6.95%) – and against Rs.2033.36 Cr in Q1 FY
12 (Up by 26.93%).
Provisions for the
first quarter of FY 13 stands at Rs.487.31 cr – against Rs.298.30 Cr in the
previous quarter of Q4 FY 12 (Up by 63.36%)
– and against Rs.443.66 Cr in Q1 FY 12 (Up by 9.84%).
Profit before tax for the
first quarter of FY 13 stands at Rs.2093.63 cr – against Rs.2114.91 Cr in the
previous quarter of Q4 FY 12 (down by -1.01%)
– and against Rs.1589.70 Cr in Q1 FY 12 (Up by 31.7%).
Tax Expense for the first
quarter of FY 13 stands at Rs.676.24 cr – against Rs.661.83 Cr in the previous
quarter of Q4 FY 12 (Up by 2.18%) – and
against Rs.504.72 Cr in Q1 FY 12 (Up by 33.98%).
Net Profit After Tax for the first
quarter of FY 13 stands at Rs.1417.39 cr – against Rs.1453.08 Cr in the
previous quarter of Q4 FY 12 (down by -2.46%)
– and against Rs.1084.98 Cr in Q1 FY 12 (Up by 30.64%).
Net interest margin stood at 4.3 % in Q1 FY 13, compared with 4.2 % in the Q4
FY 12. The bank hopes to keep NIM in a range of 3.9-4.2 % in the near-term.
Net advances grew 21.5 percent from a year ago to Rs.2.13 trillion at
the end of Q1 FY 13. Net interest income, as seen earlier, rose 22.3 percent in
the quarter, supported by strong loan growth and higher NIM.
HDFC
Bank has good asset quality, with the ratio of net NPAs to net advances at 0.2 %
at Q1 FY 13 end, same as a year ago. Total restructured loans are at 0.3 % of
gross advances.
Loan
book has grown more than 17 %.
Profit & Loss Account:
For Year ended March 31,
2012
For
the year ended March 31, 2012, the Bank earned total income of Rs.32,530.0 Cr.
Net revenues for the year ended March 31, 2012 were Rs.17,540.5 Cr,
up by 17.9% over Rs.14,878.3 Cr for the
year ended March 31, 2011.
The
Bank’s net profit for year ended March 31, 2012 was Rs.5,167.1 Cr, up 31.6%,
over the year ended March 31, 2011.
Consolidated net profit increased by 31.4% to Rs.5,247.0 Cr for the year ended
March 31, 2012.
Balance Sheet: As of March
31, 2012
The
Bank’s total balance sheet size increased by 21.8% from Rs.277,353 Cr as of March
31, 2011 to Rs.337,909 Cr as of March 31, 2012.
Total
net advances as of March 31,2012 were Rs.195,420 Cr, an increase of 22.2% over
March 31, 2011.
Total
deposits were at Rs.246,706 Cr, an increase of 18.3% over March 31, 2011 - Adjusted
for one off current account deposits at the ended March 31, 2011, core total
deposit growth for the year was 20.6%. Savings account deposits grew 16.6% over
the previous year to reach Rs.73,998 Cr, and with current account deposits at Rs.45,408
Cr, the CASA ratio was at 48.4% of total deposits as at March 31, 2012.
Capital Adequacy:
The
Bank’s total Capital Adequacy Ratio (CAR) as at March 31, 2012 (computed as per
Basel II guidelines) stood at 16.5% as against 16.2% as of March 31, 2011 and
against the regulatory minimum of 9.0%. Tier-I CAR was 11.6% as of March 31, 2012.
DIVIDEND
The
Bank has recommended a dividend of Rs.4.30 per equity share of Rs.2 for the year
ended March 31, 2012, as against Rs.3.30 per equity share of Rs.2 (which was Rs.16.50 per share of Rs.10 before the share
split) for the previous year.
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