HDFC Bank Q3 Results highlights: Net profit tops expectations, up by 34%

The consolidated total income of HDFC Bank rose to ₹1,15,015 crore from ₹54,123 crore at the end of the same quarter the previous year.

HDFC Bank's net interest income (NII) is reported to be at ₹28,470 crore in the December quarter, an increase of 24%, compared to ₹22,990 crore reported in the last quarter.

HDFC Bank's profit rose by 34% to ₹16,373 crore in the October-December quarter. The bank's net interest income came in at ₹28,470 crore in the said period.

On the day of its quarterly results, the shares of HDFC Bank ended on a slightly higher note, recording a 0.42 per cent growth at ₹1,678.95 apiece.

Brokerages like Motilal Oswal and Axis Securities have estimated stable YoY and QoQ growth predictions for HDFC Bank last quarter, with the results expected to be announced in a few hours.

The share price of HDFC Bank is now recovering ahead of the Q3 results, showing a spike of nearly 0.40 percent. The shares currently stand at ₹1,678.95.

The key focus of the quarterly results for HDFC Bank will be the earning trajectory of the firm, as well as the updates on post-merger stats and profits.

Apart from HDFC Bank, firms like Federal Bank, ICICI Securities Ltd, L&T Technology Services Ltd, ICICI Lombard and several other firms will also release their Q3 results today.

Just a few hours ahead of the Q3 result announcements, the share price of HDFC Bank has dropped down to ₹1,670 apiece.

It is expected that the loan growth for HDFC Bank for December 2023 quarter will be 17 percent YoY, and 4 percent QoQ. Meanwhile, the Net interest income (NII) is expected to grow by 1 percent YoY, predicted Nuvama Institutional Equities.

Yes Securities has predicted that in the HDFC Bank Q3 results, the sequential loan growth will be in the 4% ballpark due to idiosyncratic growth trajectory.

Business growth, earning trajectory, assets quality and yeild on loans are some of the key variables to watch out for in HDFC Bank Q3 results for December quarter.

According to Motilal Oswal, the margins of Q3 may see a slight improvement than the previous quarter, while asset quality for the merged equity is expected to remain stable.

During the Q2 results of HDFC Bank, the net profit jumped 51% YoY to ₹15,976 crore and total income increased 70% YoY to ₹78,406 crore.

According to multiple brokerages, the core earnings for HDFC Bank are expected to be muted for the the December 2023 quarter.

Over the last year, HDFC Bank shares have been underperforming keeping in mind the growth of Nifty 50 and Bank Nifty. While Nifty has gone up 12% in the last 3 months, HDFC saw a 9 percent growth during this time.

While the shares fell flat on the Q3 result day, HDFC Bank shares have been up by around 9 percent over the last three months.

According to brokerage Motilal Oswal Financial Services, the net profit of HDFC Bank is expected to rise by 32 percent in the quarter ending in December 2023.

The share prices of HDFC Bank dropped by 0.25 percent on BSE on Tuesday, ahead of the quarterly results of the company.