HDFC Bank Q4 Result: Private lender to announce Q4 earnings, dividend on April 20

“We wish to inform you that the meeting of the Board of Directors of HDFC Bank Limited will be held on Saturday, April 20, 2024 to inter-alia consider the Audited financial results for the year ended March 31, 2024 along with the consolidated accounts for the year ended March 31, 2024,” HDFC Bank said in an exchange filing.

Along with HDFC Bank Q4 result update, the bank’s board will also consider the proposal for the recommendation of dividend for the financial year ended March 31, 2024.

Also Read: HDFC Bank: FII ownership declines to 47.8% in Q4 from 52.3% at the end Q3

The trading window for dealing in HDFC Bank shares and securities has been closed from March 25, 2024 to April 22, 2024 (both days inclusive) for the designated employees, directors, etc. pursuant to the applicable SEBI regulations.

HDFC Bank Q4 Update

In its Q4 business update, HDFC Bank reported a 55.4% year-on-year (YoY) growth in gross advances to ₹25.08 lakh crore as of March 31, 2024, from ₹16.14 lakh crore as of March 31, 2023.

HDFC Bank’s deposits in Q4FY24 aggregated to approximately ₹23.80 lakh crore, rising by 26.4% YoY and 7.5% QoQ.

CASA deposits in the fourth quarter of FY24 rose 8.7% to ₹9.09 lakh crore from ₹8.36 lakh, YoY. The sequential growth in CASA deposits was 8.8%, HDFC Bank’s Q4 update showed.

Read here: HDFC Bank Q4 Update: Gross advances rise 55% YoY to ₹24.69 lakh crore; deposits grow 26%; share price gains 3%

HDFC Bank Q4 Results Preview

HDFC Bank is expected to report a net profit of ₹16,163 crore in the quarter ended March 2024, a growth of 34.2% from ₹12,047.5 crore in the year-ago quarter. On a sequential basis, the bank’s net profit is likely to drop by 1.3% from ₹16,372.5 crore in Q3FY24, as per estimates by Elara Securities.

Net interest income (NII) in Q4FY24 is likely to increase 26.1% to ₹29,443.9 crore from ₹23,351.8 crore, YoY, and up 3.4% from ₹28.471.3 crore, QoQ. Net interest margin (NIM) is expected to be steady, but with several variables at play, namely transitionary liquidity requirement, changing loan construct, and systemic challenges on deposits, NIM recovery may take longer.

The brokerage firm expects HDFC Bank’s asset quality to see yet another strong print – reflected in curtailed slippages and improving granular recovery trend.

On Thursday, HDFC Bank shares ended 3.06% higher at ₹1,527.90 apiece on the BSE.

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Published: 04 Apr 2024, 03:49 PM IST