HDFC Bank Q2 Results: Amid speculations about the kind of results HDFC Bank would be presenting after its amalgamation with HDFC Ltd, Dalal Street was in confusion about whether the Q2 results 2023 would be declared on Sunday or Monday, as the board of directors meeting is scheduled to happen from October 15 to 16, 2023.
To avoid confusion, HDFC Bank Ltd has clarified that the HDFC Bank results for Q2FY24 will be declared on Monday, October 16, 2023. However, the private lender has yet to announce the details of the media briefing and conference call timings.
While informing Indian stock market bourses about the board of directors meeting to consider and approve unaudited financial results, HDFC Bank said, "We wish to inform you that a meeting of the Board of Directors of HDFC Bank Limited (“the Bank”) will be held over Sunday, October 15, 2023 to Monday, October 16, 2023 to inter-alia consider the unaudited standalone and consolidated financial results for the second quarter and half year ended September 30, 2023."
In this exchange communication, HDFC Bank also mentioned, "The financial results will be presented to the Board of Directors on October 16, 2023 for their approval."
This means that the financial results of HDFC Bank will be approved on October 16, 2023, which is a Monday. As HDFC Bank results cannot be declared without the approval of its board of directors, investors and other interested parties should wait for the Q2 results 2023 of HDFC Bank to be declared on Monday, October 16, 2023. Although the meeting to consider and approve HDFC Bank Q2 results 2023 will begin on Sunday, October 15, 2023, the results will be declared on Monday, October 16, 2023.
In the April-June 2023 quarter, HDFC Bank reported a standalone net profit of ₹11,951.7 crore for the quarter ended June 2023, registering a growth of 30% from ₹9,196 crore in the same quarter last year. The private lender's net interest income (NII) during Q1FY24 increased 21.1% to ₹23,599.1 crore from ₹19,481.4 crore, YoY. Core interest margin of HDFC Bank was at 4.1% on total assets, and 4.3% based on interest earnings assets. Provisions and contingencies for the quarter ended June 30, 2023, were at ₹2,860 crore as against ₹3,188 crore, YoY.
