GUWAHATI: HDFC Bank Limited announced Q1 results for the quarter ended June 30, 2024, on Saturday. The Bank earned a net profit of Rs 161.7 billion, an increase of 35.3% over the quarter ended June 30, 2023.
Profit before tax (PBT) for the quarter ended June 30, 2024, was at Rs 212.8 billion. The consolidated profit after tax for the quarter ended June 30, 2024, was Rs 164.7 billion, up 33.2%, over the quarter ended June 30, 2023.
The total balance sheet size as of June 30, 2024, was Rs 35,672 billion as against Rs 25,017 billion as of June 30, 2023. Total deposits were at Rs 23,791 billion as of June 30, 2024, an increase of 24.4% over June 30, 2023. CASA deposits grew by 6.2% with savings account deposits at Rs 5,964 billion and current account deposits at Rs 2,673 billion.
The Bank’s net revenue grew by 23.4% to Rs 405.1 billion for the quarter that ended June 30, 2024, from Rs 328.3 billion for the quarter that ended June 30, 2023.Net interest income (interest earned less interest expended) for the quarter ended June 30, 2024, grew by 26.4% to Rs 298.4 billion from Rs 236.0 billion for the quarter ended June 30, 2023. Core net interest margin was at 3.47% on total assets, and 3.66% based on interest-earning assets. Net non-performing assets were at 0.39% of net advances as on June 30, 2024.
As of June 30, 2024, the Bank’s distribution network was at 8,851 branches and 21,163 ATMs across 4,081 cities/towns as against 7,860 branches and 20,352 ATMs across 3,825 cities/towns as of June 30, 2023. 52% of our branches are in semi-urban and rural areas.
