Homeearnings News

HDFC Bank Q4 net profit jumps 18% to Rs 6,927 crore, misses estimates

HDFC Bank Q4 net profit jumps 18% to Rs 6,927 crore, misses estimates

HDFC Bank Q4 net profit jumps 18% to Rs 6,927 crore, misses estimates
Profile image

By CNBC-TV18 Apr 18, 2020 4:41:33 PM IST (Updated)

Country's second-largest private sector lender HDFC Bank on Saturday reported a 18 percent jump in net profit to Rs 6,927 crore for January-March 2020 quarter

Country's second-largest private sector lender HDFC Bank on Saturday reported a 18 percent jump in net profit to Rs 6,927 crore for January-March 2020 quarter

Recommended Articles

View All

In the corresponding quarter last year, the Mumbai-headquartered bank posted a net profit of Rs 5,885.12 crore. CNBC-TV18 Polls had predicted a profit of Rs 7,228.9 crore for the quarter under review.
The consolidated total income during the March quarter of 2019-20 increased to Rs 38,287.17 crore, from Rs 33,260.48 crore a year ago, the bank said in a regulatory filing.
Net interest income, the difference between interest earned and interest expended, increased to Rs 15,204.1 crore from Rs 13,089.5 crore driven by growth in advances of 21.3 percent and a growth in deposits of 24.3 percent.
Operating expenses for the quarter were Rs 8,277 crore , an increase of 16.3 percent over Rs 7,117.1 crore during the corresponding quarter of the previous year.
The bank said it will not make any further dividend payouts from profit pertaining to 2019-20, as per RBI directives announced on Friday.
The central bank had debarred lenders from dividend payouts so that they can conserve capital in an environment of heightened uncertainty caused by the COVID-19 crisis.
Accordingly, the board of directors of HDFC Bank, at their meeting held on Saturday, did not propose any final dividend for the year ended March 31, 2020, it added.
Yesterday, shares of HDFC Bank ended at Rs 910.40, up by Rs 29.35, or 3.33 percent on the BSE.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Most Read

Market Movers

View All
Top GainersTop Losers
CurrencyCommodities
CompanyPriceChng%Chng