InvestorQ : How did you find the HDFC Bank quarterly results for the Jun-21 quarter?
Arti Chavan made post

How did you find the HDFC Bank quarterly results for the Jun-21 quarter?

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Rutuja Nigam answered.
3 weeks ago
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For the Jun-21 first quarter, HDFC Bank reported a 16.1% higher net profit to Rs.7,730 crore. While the growth was a tad below street expectations, the bigger worry was that the asset quality deteriorated marginally during the quarter. The Bloomberg Consensus estimates were closer to Rs.7,930 crore. Net interest income or NII was up 8.6% at Rs.17,009 crore largely on the back of a sharp spike in advances. NIMs were largely static at 4.1%.

HDFC Bank revenues were up 18% you at Rs.23,298 crore, driven by a sharp growth in loan volumes although yields remained tepid due to fall in rates. However, the bank saw a 24% rise in contingency provisions at Rs.4,830 crore. The COVID 2.0 had impacted the pace of business and also had a negative impact on collections. Gross NPAs of HDFC Bank worsened from 1.32% to 1.47% on account of the lag effect of COVID 2.0.

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