HDFC Bank declares special dividend of Rs 5 per share, net profit jumps 21% on-year; key figures

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Updated: July 20, 2019 5:01:51 PM

India's largest private sector lender HDFC Bank has declared a Special Interim Dividend of Rs 5 per share for the current fiscal, in commemoration of 25 years of the Bank’s operations.

HDFC Bank, GDR, Luxembourg Stock Exchange, global depository receipts, BSEShares of HDFC Bank were trading 0.23 per cent lower at Rs 2,390.55 apiece on BSE.

India’s largest private sector lender HDFC Bank has declared a Special Interim Dividend of Rs 5 per share for the current fiscal, in commemoration of 25 years of the Bank’s operations. Notably, The bank’s board has August 2, 2019 as the Record Date for ascertaining the entitlement of Special Interim Dividend. “The date of payment of dividend in electronic form would be August 13, 2019 onwards and for dispatch of physical dividend warrants, it would be August 13, 2019 onwards,” the lender said in a statement. The bank has reported a 21% on-year rise in net profit to Rs 5,568.20 crore. A CNBC TV18 poll had earlier estimated net profit of Rs 5,609 crore. We take a look at key figures from the results.

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HDFC Bank net profit jumps 21% on-year to Rs 5,568.20 crore; key figures in a nutshell

  • HDFC Bank earned a net profit of Rs 5,568.2 crore, an increase of 21.0% over the quarter ended June 30, 2018. A CNBC TV18 poll had earlier estimated net profit of Rs 5,609 crore.
  • The Bank’s total income for the quarter came in at Rs 32,361.8 crore growing by 22.7%  on-year from Rs 26,367.0 crore for the quarter ended June 30, 2018. Net revenues (net interest income plus other income) increased by 24.8% to Rs 18,264.5 crore for the quarter under review. 
  • Net interest income (interest earned less interest expended) for the quarter ended June 30, 2019 grew by 22.9% to Rs 13,294.3 crore, from Rs 10,813.6 crore for the quarter ended June 30, 2018, driven by asset growth and a core net interest margin of 4.3% for the quarter.
  • Other income (non-interest revenue) stood at Rs 4,970.3 crore. The figure was 27.2% of the net revenues for the quarter ended June 30, 2019 and grew by 30.2% over Rs 3,818.1 crore in the corresponding quarter.
  • Operating expenses for the quarter ended June 30, 2019 were Rs 7,117.3 crore, an increase of 18.9% over Rs 5,983.9 crore during the corresponding quarter of the previous fiscal year.
  • Provisions and contingencies for the quarter ended June 30, 2019 were Rs 2,613.7 crore as against Rs 1,629.4 crore for the quarter ended June 30, 2018. Gross non-performing assets were at 1.40% of gross advances as on June 30, 2019 (1.17% excluding NPAs in the agricultural segment) as against 1.33% as on June 30, 2018.
  • Total deposits as of June 30, 2019 were Rs 9,54,554 crore, an increase of 18.5% over June 30, 2018. CASA deposits grew by 12.8% with savings account deposits at Rs 2,53,338 crore and current account deposits at 1,25,663 crore.
  • As of June 30, 2019, the bank’s distribution network was at 5,130 banking outlets and 13,395 ATMs across 2,764 cities / towns as against 4,804 banking outlets and 12,808 ATMs across 2,700 cities/ towns as of June 30, 2018.

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