Q2 Results 2024: HDFC Bank to announce Q2FY25 earnings report on October 19

Earnings: India's largest private sector lender HDFC Bank will announce its second quarter results for the financial year (Q2FY25 results) on October 19, the company informed the exchanges on September 16.

In a filing with the BSE, the company said that its Board of Directors (BoD) is scheduled to meet on October 19, 2024, “to inter-alia consider and approve the un-audited standalone and consolidated financial results for the quarter/ half-year ending September 30, 2024”.

Further, the release said, “We also wish to inform you that trading window for dealing in securities of the Bank will remain closed from Tuesday, September 24, 2024 to Monday, October 21, 2024 (both days inclusive) for the designated employees, directors, etc. pursuant to the applicable SEBI regulations.”

HDFC Bank Q1 Results

The bank announced its April-June quarter results for fiscal 2024-25 (Q1FY25) on Saturday, July 20, reporting a drop of two per cent in net profit at ₹16,175 crore, compared to ₹16,511.9 crore in the preceding January-March quarter of FY24.

India's leading private lender's net interest income (NII)—the difference between interest earned and paid—rose 2.6 per cent sequentially to ₹29,837 crore, compared to ₹29,078 crore in the fourth quarter of FY24.

Key Metrics from Q1 Results

• The gross non-performing asset (NPA) rose six per cent sequentially to ₹33,026 crore in the June quarter, compared to ₹31,173 crore in the preceding March quarter. The gross NPA ratio jumped nine basis points sequentially, as it stood at 1.33 per cent in Q1FY25 as against 1.24 per cent in Q4FY24.
• The net NPA rose 17.5 per cent sequentially. It stood at ₹9,508.4 crore in Q1FY25, as against ₹8.091.7 crore in Q4FY24. The net NPA ratio increased by 6 basis points to 0.39 per cent, as against 0.33% in the preceding March quarter.

• Total deposits stood at ₹23,791 billion as of June 30, 2024, an increase of 24.4 per cent over June 30, 2023. Current account and savings account (CASA) deposits grew by 6.2 per cent, with savings account deposits at ₹5,964 billion and current account deposits at ₹2,673 billion.
• Time deposits stood at ₹15,154 billion, an increase of 37.8 per cent over the corresponding quarter of the previous year. As of June 30, 2024, the CASA deposits comprised 36.3 per cent of the total deposits.
• HDFC Bank said its total number of employees at the end of the June 2024 quarter stood at 2,13,069, which is 17.2 per cent higher than the 1,81,725 employees at the end of the June 2023 quarter.