HDFC Bank Share Price Surges 3.75%; Q2 FY 2025 Net Revenue Grows 14.7% YoY

HDFC Bank Limited announced its financial results for the quarter and half-year ended September 30, 2024.

Quarter-Ended September 30, 2024 – Consolidated Financial Performance

The bank reported a consolidated net revenue of ₹760.4 billion, marking a 14.7% increase from ₹663.2 billion in the same quarter of the previous year. The consolidated profit after tax (PAT) for the quarter reached ₹178.3 billion, and when adjusted for trading and mark-to-market gains along with tax credits from the prior year, the PAT grew by 17.4% year-on-year. 

Earnings per share (EPS) for the quarter ended September 30, 2024, stood at ₹23.4, while the book value per share as of the same date was ₹631.4. 

The bank’s total balance sheet size as of September 30, 2024, was ₹36,881 billion, an increase from ₹34,163 billion a year earlier. 

In terms of deposits, HDFC Bank reported total deposits of ₹25,001 billion as of September 30, 2024, representing a 15.1% increase compared to the same date in the previous year. The current and savings account (CASA) deposits grew by 8.1%, with savings account deposits amounting to ₹6,081 billion and current account deposits at ₹2,754 billion. Time deposits were reported at ₹16,165 billion, reflecting a 19.3% increase year-on-year. Consequently, CASA deposits constituted 35.3% of total deposits as of September 30, 2024.

Half Year Ended September 30, 2024 – Financial Highlights 

For the half-year ended September 30, 2024, HDFC Bank earned total income of ₹1,692 billion, compared to ₹1,362 billion for the corresponding period last year. The net revenues (which include net interest income and other income) for the half-year were ₹821 billion, a rise from ₹709 billion in the previous year. The bank’s profit after tax for the half-year period was ₹330 billion, showing an 18.1% increase over the corresponding half-year last year.

On October 21, 2024, HDFC Bank share price opened at ₹1,715.00, up from its previous close of ₹1,681.85. At 11:10 AM, the share price of HDFC Bank was trading at ₹1,745.00, up by 3.75%.

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