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HDFC Bank Q3 Results Highlights: Net profit rises 33% to 16,372 crore, NII up 24% YoY

HDFC Bank Q3 Results Highlights: HDFC Bank net interest income came in at 28,470 crore in the December quarter, reporting a growth of 24 per cent year-on-year.

HDFC Bank Q3 Results Live Updates: HDFC Bank shares have underperformed the benchmark indices, Nifty 50 and Bank Nifty, in the past one year.

HDFC Bank Q3 Results Highlights: HDFC Bank announced its October-December quarter results for fiscal 2023-24 (Q3FY24) today, January 16. India’s largest private sector lender reported a growth of 33 per cent in net profit at 16,372 crore, compared to 12, 259 crore in the year-ago period. HDFC Bank's net interest income came in at 28,470 crore in the December quarter, reporting a growth of 24 per cent year-on-year.

HDFC Bank share price has gained over nine per cent in the past three months and just over 5.5 per cent in one year. This is against Nifty 50’s 12 per cent rally in three months and more than 23 per cent surge in one year. Meanwhile, Bank Nifty has risen over nine per cent in three months and 14.5 per cent in one year. 

Also Read: HDFC Bank share price cracks 7% after Q3 results; what should investors do?

Stay tuned to our HDFC Bank Q3 results live blog for the latest updates:

16 Jan 2024, 08:45 PM IST HDFC Bank Q3 Results: This live blog session has ended

Stay tuned to LiveMint for all business and market updates.

16 Jan 2024, 08:43 PM IST HDFC Bank Q3 Results Live: HDFC Bank shares in focus tomorrow

Shares of HDFC Bank will be in focus during tomorrow's trading session after reporting Q3FY24 results today. On Tuesday, shares settled 0.42 per cent higher at 1,678.95 apiece on the BSE.

16 Jan 2024, 08:26 PM IST HDFC Bank Q3 Results Live: IPO process of HDB Financial Services likely to start soon

The initial public offering (IPO) process of HDFC Bank’s non-banking arm, HDB Financial Services is likely to commence in the next few months, said the lender's Chief Financial Officer Srinivasan Vaidyanathan in the post-earnings call earlier today. The CFO added that the listing requirement is scheduled in September 2025.

16 Jan 2024, 07:55 PM IST HDFC Bank Q3 Results Live: Unsecured loans

HDFC Bank took a 97 basis points hit on capital due to higher risk weights on unsecured loans, but said growth in unsecured loans has been modest.

Separately, the bank said its exposure to alternative investment funds (AIFs) was 1,220 crore, but was completely provided for.

Last month, the Reserve Bank of India barred all entities under its regulation from investing in AIFs that have investments in recent borrowers, or must provision against such exposure, if an exit was not possible.

16 Jan 2024, 07:24 PM IST HDFC Bank Q3 Results Live: HDFC Bank plans listing consumer finance unit

HDFC Bank said it will soon start work on listing its non-bank consumer financing business. ‘’HDFC Bank is hopeful of building momentum on deposit growth in 2024-25, CFO Srinivasan Vaidyanathan said in the post-earnings call. Vaidyanathan also said the lender expects to start the process of listing HDB Financial Services, which provides secured and unsecured loans, in the next few months.

16 Jan 2024, 07:02 PM IST HDFC Bank Q3 Results Live: HDFC Bank aims to have over 13,000 branches in 3-5 years

HDFC Bank aims to have over 13,000 branches in the next three-five years, said Srinivasan Vaidyanathan, Chief Financial Officer (CFO), HDFC Bank.

“We have added 908 branches in the last twelve months and 146 branches in the last quarter," Vaidyanathan said at the bank's post-results press conference on January 16. 

16 Jan 2024, 06:33 PM IST HDFC Bank Q3 Results Live: Nine months ended Dec'23

HDFC Bank's Q3 print over nine months

16 Jan 2024, 05:58 PM IST HDFC Bank Q3 Results Live: Net revenue grew 25% to ₹39,600 crore

The consolidated total income of HDFC Bank rose to 1,15,015 crore compared to 54,123 crore at the end of the same quarter the previous year. Net revenue grew 25.8 per cent to 39,600 crore in the December quarter. This is HDFC Bank's second earnings report since its merger with parent Housing Development Finance Corp (HDFC) in July.

16 Jan 2024, 05:51 PM IST HDFC Bank Q3 Results Live: Core NIM at 3.4% in December quarter

The core net interest margin was at 3.4 per cent on total assets, and 3.6 per cent based on interest-earning assets. Provisions in the December quarter increased to 4,217 crore from 2,806 crore a year ago, and 2,904 crore a quarter ago. The contingent provisions are on account of investments in alternative investment funds, said Srinivasan Vaidyanathan, CFO at HDFC Bank.

16 Jan 2024, 05:43 PM IST HDFC Bank Q3 Results Live: Q3 numbers at a glance

HDFC Bank's pre-provision operating profit (PPoP), grew by more than 24 per cent year-on-year to 23,647.30 crore. The total credit cost ratio was 0.49 per cent in the December quarter, compared to 0.74 per cent a year ago. The other income for the quarter was 11,137 crore, compared to around 8,500 crore a year ago

16 Jan 2024, 05:34 PM IST HDFC Bank Q3 Results Live: Balance sheet, CAR

HDFC Bank Q3 Results Live: The total balance sheet size of the lender as of December end, stood at 34.93 lakh crore, compared to 22.95 lakh crore a year ago. The capital adequacy ratio as per Basel III guidelines, stood at 18.4 per cent as of December end, much higher than the regulatory requirement of 11.7 per cent.

16 Jan 2024, 05:20 PM IST HDFC Bank Q3 Results Live: Marker closing

Equity benchmarks the Nifty 50 and the Sensex snapped their five-day winning streak on Tuesday, January 16, on profit booking in shares of select heavyweights, including Reliance Industries, Infosys, TCS and HCL Tech amid weak global cues. 

Nifty 50 opened at 22,080.50 against the previous close of 22,097.45 and hit its fresh record high of 22,124.15 during the session. The index, however, erased all gains and closed 65 points, or 0.29 per cent, lower at 22,032.30.

16 Jan 2024, 05:09 PM IST HDFC Bank Q3 Results Live: Advances and loan growth

HDFC Bank Q3 Results Live: The private lender's total advances rose 62.4 per cent to 24.69 lakh crore. Domestic retail loans of the bank grew by 111 per cent, commercial and rural loans of the bank rose 31.4 per cent and corporate and wholesale loans (excluding non-individual loans of eHDFC Ltd. of approximately 98,900 crore) rose 11.2 per cent.

16 Jan 2024, 04:43 PM IST HDFC Bank Q3 Results Live: Deposits rise 27% YoY in Q3

HDFC Bank Q3 Results Live: In the October-December quarter, the total deposits of the bank jumped by 27.7 per cent to 28.47 lakh crore compared to 22.29 lakh crore in the corresponding quarter last year. Current account and savings account deposits grew by 9.5 per cent with savings account deposits at 5.79 lakh crore and current account deposits at 2.58 lakh crore.

16 Jan 2024, 04:27 PM IST HDFC Bank Q3 Results Live: HDFC Bank's asset quality mixed in Q3

The bank's gross non-performing assets (NPA) stood at 1.26 percent, up from 1.23 per cent last year. On the other hand, net NPA for the quarter stood at 0.31 per cent compared to 0.33 percent last year. The numbers are not comparable to a year ago when the lender and HDFC operated as separate firms.

16 Jan 2024, 04:17 PM IST HDFC Bank Q3 Results Live: NII up 24% YoY in December quarter

HDFC Bank's net interest income (NII) came in at 28,470 crore in the December quarter, which increased by 24 per cent, compared to 22,990 crore reported in the corresponding quarter of the previous fiscal. 

16 Jan 2024, 04:15 PM IST HDFC Bank Q3 Results Live: Net profit up 33% to ₹16,372 crore

HDFC Bank's net profit rose 33 per cent to 16,372 crore in the October-December quarter. The bank's net interest income came in at 28,470 crore in the December quarter, reporting a growth of 24 per cent year-on-year.

16 Jan 2024, 03:47 PM IST HDFC Bank Q3 Results Live: Stock settles higher ahead of Q3 results

On Tuesday, shares of HDFC Bank settled 0.42 per cent higher at 1,678.95 apiece on the BSE, ahead of the announcement of Q3FY24 results.

16 Jan 2024, 03:15 PM IST HDFC Bank Q3 Results Live: Stock turns positive ahead of Q3 results

HDFC Bank Q3 Results Live: HDFC Bank shares turned positive ahead of Q3FY24 results. HDFC Bank shares were last up 0.43 per cent higher at 1,679.10 apiece on the BSE.

16 Jan 2024, 02:52 PM IST HDFC Bank Q3 Results Live: Expect healthy return ratios aided by robust growth visibility: Shreyansh Shah of StoxBox

HDFC Bank Q3 Results Live: HDFC Bank is expected to have strong business growth due to increased branches and effective execution from the sales team, which was aided by the festive season. Deposits are likely to witness healthy growth in Q3FY24 due to attractive interest rates and increased mobilisation of term deposits (TDs). However, its CASA may have a marginal impact due to increased traction in the TDs. NIMs are likely to be range-bound between 3.4% and 3.6% due to the high cost of funds, said Shreyansh Shah, a research analyst at StoxBox.

We expect an improvement in profitability and return ratios due to increasing disbursements, mainly to construction finance. As HDFC Bank has taken care of the non-retail book of erstwhile HDFC Ltd. in the previous quarter itself, we do not foresee further run down in asset quality in the current as well as upcoming quarters, said Shah.

Going ahead, Shah expects the bank to have a healthy liquidity coverage ratio due to the merger effect, with return ratios aided by robust growth visibility in the top line from various loan segments. Additionally, a better mix of loan originations, particularly focused on the retail shift, would help the bank to outperform its peers in the industry.

16 Jan 2024, 02:45 PM IST HDFC Bank Q3 Results Live: Business growth, earnings trajectory key monitorables

HDFC Bank Q3 Results Live: Key things to look for in HDFC Bank Q3 results would be business growth, earnings trajectory, updates on trends post merger and strategy to improve the CD ratio.

16 Jan 2024, 02:30 PM IST HDFC Bank Q3 Results Live: Slippages likely to rise 12.8% QoQ

HDFC Bank Q3 Results Live: HDFC Bank’s slippages during the quarter ended December 2023 are expected to rise 12.8% to 8,800 crore from 7,800 crore in the September quarter, according to Phillip Capital. Net interest margin (NIM) are likely to decline sequentially to 3.32% due to rise in cost of deposit.

16 Jan 2024, 02:13 PM IST HDFC Bank Q3 Results Live: NII may rise 4.5% QoQ: Yes Securities

HDFC Bank Q3 Results Live: Yes Securities estimates HDFC Bank’s net interest income in Q3FY24 to rise 4.5% QoQ to 28,617 crore, while net profit to grow 1.7% QoQ to 16,244 crore. Pre-provision operating profit (PPoP) is expected to rise 4.5% QoQ to 23,726 crore.

16 Jan 2024, 02:00 PM IST HDFC Bank Q3 Results Live: Systemic deposit growth improved to 13.3% YoY

HDFC Bank Q3 Results Live: Systemic deposit growth has improved to 13.3% YoY, driven by higher push for deposit mobilization and aggressive TD rates being offered by banks. This has helped further narrow the gap between credit and deposit growth to ~2.4% in Dec’23. The elevated CD ratios across most private banks, coupled with healthy credit volumes in the seasonally strong second half, will likely sustain high competitive pressure on liabilities. Deposit accretion among top lenders such as HDFC Bank, Axis Bank, Bank of Baroda and IDFC First Bank will thus be a key monitorable and an important factor to determine the loan growth, Motilal Oswal said.

16 Jan 2024, 01:44 PM IST HDFC Bank Q3 Results Live: Loan growth expected 17% YoY

HDFC Bank Q3 Results Live: Nuvama Institutional Equities expects HDFC Bank’s loan growth of 4% QoQ and 17% YoY during the third quarter of FY24. Net interest income (NII) growth of 2% QoQ and 1% YoY is estimated. PPOP is expected to grow 2% QoQ, while declining 4% YoY. The brokerage expects NIM to decline 3 bps QoQ.

16 Jan 2024, 01:16 PM IST HDFC Bank Q3 Results Live: Sequential loan growth to be in 4% ballpark due to idiosyncratic growth trajectory

HDFC Bank Q3 Results Live: Sequential loan growth will be in the 4% ballpark due to idiosyncratic growth trajectory. NII growth will be similar to average loan growth due to rise in cost of deposits outpacing yield on advances being offset by liquidity unwind. Consequently, NIM will be stable sequentially. Sequential fee income growth will slightly exceed loan growth due to linkage with payments activity. Opex growth will slightly lag loan growth. Slippages would be broadly stable on sequential basis. Provisions will be stable sequentially due to idiosyncratic aspects, as per Yes Securities.

16 Jan 2024, 01:00 PM IST HDFC Bank Q3 Results Live: HDFC Bank shares witness selling pressure ahead of Q3 earnings

HDFC Bank Q3 Results Live: HDFC Bank share price witnessed selling pressure ahead of the announcement of Q3 results today. HDFC Bank shares traded lower at apiece on the BSE. The stock made an intraday low of 1,658.05 and an intraday high of 1,680.20 on BSE.

16 Jan 2024, 12:46 PM IST HDFC Bank Q3 Results Live: PPoP may rise 28% YoY

HDFC Bank Q3 Results Live: HDFC Bank’s net profit is estimated to rise 0.2% YoY to 15,027 crore in the quarter ended December 2023, while its pre-provision operating profit may jump over 28% to 29,372 crore. NII is expected to grow by 3% YoY to 28,663 crore, while NIM is expected to drop by 50 bps to 3.74% YoY, as per Prabhudas Lilladher.

16 Jan 2024, 12:30 PM IST HDFC Bank Q3 Results Live: Loan growth may be 5% QoQ led by retail, CRB portfolio

HDFC Bank Q3 Results Live: Loan growth would be 5% QoQ led by retail and CRB portfolio. Net interest income (NII) too could grow by 4.7% led by better yields and slight fall in funding cost. Hence we expect NIM to improve by 8 bps. Pre-provision operating profit (PPoP) may jump by 29% QoQ since Credila stake sale gains could be booked in Q3FY24. GNPAs could see an improvement by 3 bps QoQ to 1.31% while we expect provisions to slightly increase, said Prabhudas Lilladher.

16 Jan 2024, 12:09 PM IST HDFC Bank Q3 Results Live: Core earnings growth would be muted for FY24

HDFC Bank Q3 Results Live: HDFC Bank’s net interest margin (NIM) in Q2FY24 was affected by creation of excess liquidity. Although margins should bounce back in H2FY24E as credit growth picks up and liquidity is utilized. While core earnings growth would be muted for FY24E (6.3% YoY), as NIM and loan growth normalize core PAT may witness a 18.3% CAGR over FY24-26E, as per Prabhudas Lilladher. Basis core RoA at 1.74% for FY26E the brokerage firm maintains multiple at 2.8x on September 2025 core ABV. It retained a ‘Buy’ rating with a target price of 2,025 per share.

16 Jan 2024, 11:56 AM IST HDFC Bank Q3 Results Live: NII may fall 0.4%, NIM to drop 42 bps to 3.32% YoY

HDFC Bank Q3 Results Live: HDFC Bank’ net profit for the quarter ended December 2023 is expected to rise 0.9% YoY to 16,100 crore, while its net interest income (NII) is likely to fall 0.4% YoY to 27,716.4 crore. The bank’s net interest margin (NIM) during Q3FY24 is estimated to drop by 42 basis points (bps) to 3.32%, as per brokerage firm Phillip Capital.

16 Jan 2024, 11:40 AM IST HDFC Bank Q3 Results Live: HDFC Bank shares underperformed Nifty, Bank Nifty

HDFC Bank shares have failed to give any significant returns over the past one year while underperforming the benchmark indices. HDFC Bank share price has gained over 9% in three months and just over 5.5% in one year. This is against Nifty 50’s 12% rally in three months and more than 23% surge in one year. Meanwhile, Bank Nifty has risen over 9% in three months and 14.5% in one year.

16 Jan 2024, 11:20 AM IST HDFC Bank Q3 Results Live: Strong sequential credit growth at 3.8% likely: Phillip Capital

HDFC Bank Q3 Results Live: HDFC Bank may see strong sequential credit growth at 3.8% and weaker than expected deposit growth, according to Phillip Capital. Net interest margin (NIM) is expected to decline QoQ to 3.32% due to rise in cost of deposit. CASA proportion declined due to rising interest in Term Deposits. Q3FY23 is proforma number on post-merger basis, said the brokerage firm.

16 Jan 2024, 11:06 AM IST HDFC Bank Q3 Results Live: Banking sector’s credit growth steady; unsecured loan growth to moderate in Q3

HDFC Bank Q3 Results Live: The systemic credit growth remains healthy at 16% for the fortnight ended December 15, 2023 and we expect growth trends for our coverage universe to remain steady, led by continued momentum in Retail, Business Banking, and recovery in the corporate segment, Motilal Oswal said.

The SME segment has shown robust performance, while the real estate sector has been witnessing strong activity, with a segmental loan growth of 41% YoY. Among the retail segment, Home loans, Vehicle and Small business segments continue to do well, while unsecured loans are expected to witness some moderation in growth amidst RBI’s RWA regulation.

16 Jan 2024, 10:50 AM IST HDFC Bank Q3 Results Live: Net profit may rise 32%, NII likely to grow 27% YoY

HDFC Bank Q3 Results Live: HDFC Bank is expected to report a 32.5% YoY rise in net profit at 16,240 crore in the third quarter of FY24, as per the estimates of brokerage firm Motilal Oswal Financial Services. It expects net interest income (NII) to rise 26.8% YoY in Q3FY24 to 29,140 crore. Operating profit of HDFC Bank, according to the brokerage firm, can rise 26.2% YoY.

16 Jan 2024, 10:35 AM IST HDFC Bank Q3 Results Live: Expect healthy business traction, stable asset quality: Motilal Oswal

HDFC Bank Q3 Results Live: HDFC Bank's business traction is expected to remain healthy during the quarter ended December 2023. Margins are likely to see slight improvement from the Q2 lows. Asset quality for the merged entity is expected to remain broadly stable. Business growth and earnings trajectory are key monitorables, said Motilal Oswal Financial Services.

16 Jan 2024, 10:22 AM IST HDFC Bank Q3 Results Live: Q3 Deposits up by 1.9% QoQ to ₹22.14 lakh crore

HDFC Bank Q3 Results Live: HDFC Bank’s deposits increased by 1.9% to 22,14,000 crore at the end of the third quarter of FY24 from 21,72,900 crore at the end of September quarter. Deposits recorded a growth of 27.7% YoY. Retail deposits increased by 2.9%, while wholesale deposits declined 3.4%, QoQ.

The bank’s CASA deposits aggregated to approximately 8,35,500 crore in Q3FY24, a growth of 2.2% QoQ. Retail CASA grew by around 10.0% over December 31, 2022 and grew by around 2.3% over September 30, 2023. 

The bank’s CASA ratio stood at around 37.7% as of December 31, 2023, as compared to 44.0% as of December 31, 2022 and 37.6% as of September 30, 2023. Read here

16 Jan 2024, 10:10 AM IST HDFC Bank Q3 Results Live: Q3 gross advances grew 62% QoQ

HDFC Bank Q3 Results Live: HDFC Bank’s gross advances aggregated to 24,69,500 crore as of December 31, 2023, registering a growth of around 62.4% over 15,20,500 crore as of December 31, 2022. On a sequential basis, the lender’s gross advances grew by 4.9% from 23,54,600 crore as of September 30, 2023.

Grossing up for transfers through inter-bank participation certificates and bills rediscounted, the bank’s advances grew by around 60.7% over December 31, 2022 and around 3.8% over September 30, 2023.

16 Jan 2024, 09:58 AM IST HDFC Bank Q3 Results Live: HDFC Bank, ICICI Lombard among 31 companies to announce Q3FY24 earnings today

HDFC Bank Q3 Results Live: Indian markets are primed for a day of high anticipation as a slew of major companies will release earnings for the third quarter of FY24 on January 16, including heavyweights like HDFC Bank, ICICI Lombard General Insurance Company, L&T Technology Services, and several others. These results will provide crucial insights into the performance of various sectors and offer clues about the broader economic recovery. Read here

16 Jan 2024, 09:42 AM IST HDFC Bank Q3 Results Live: HDFC Bank shares fall ahead of Q3 results

HDFC Bank Q3 Results Live: HDFC Bank share price traded lower ahead of the announcement of Q3 results today. HDFC Bank shares were trading down by 0.57% at 1,662.30 apiece on the BSE.

16 Jan 2024, 09:28 AM IST HDFC Bank Q3 Results Live: HDFC Bank to announce Q3 results today

HDFC Bank, the largest private sector lender in India, is set to announce its Q3 results today, January 16. HDFC Bank is expected to report overall healthy earnings for the fiscal third quarter ended December 2023. 

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