HDFC Bank shares are in the spotlight following their results for the December quarter. The bank reported a 2.2% increase in standalone net profit, reaching ₹16,736 crore compared to ₹16,373 crore a year ago. This profit was below what experts expected, which was ₹17,233 crore.
The bank’s Net Interest Income (NII) for the third quarter of FY25 went up by 7.7% to ₹30,650 crore, up from ₹28,470 crore in the same period last year. They earned ₹76,007 crore in interest, a 7.6% rise from ₹70,583 crore a year ago. HDFC Bank’s profit margin was reported at 3.43% on total assets.
The bank’s total earnings for the quarter were ₹42,110 crore, which is a 6.3% growth from ₹39,610 crore in the same quarter last year.
In terms of provisions and expenses, HDFC Bank put aside ₹3,150 crore, which is less than the ₹4,220 crore set aside last year.
## Deposits and Advances
HDFC Bank also saw a 15.9% growth in average deposits, reaching ₹24,52,800 crore, compared to ₹21,17,100 crore last year. Their average loans were ₹26,27,600 crore, up 7.6%.
### What Analysts Say:
– Nuvama: Maintained a ‘Buy’ rating with a target price of ₹1,950, praising the bank’s strong deposit growth and low slippage.
– Morgan Stanley: Kept an ‘Overweight’ rating with a target price of ₹1,965, noting solid performance but pointing out seasonal issues in asset quality.
– Motilal Oswal: Set a ‘Buy’ rating with a target of ₹2,050, mentioning slight concerns over asset quality but also expecting better returns in the future.
Disclaimer: The expert views provided are their own and do not reflect the opinions of NiftyStat
Leave a Reply