HDFC BANK Net Profit rises by 33.5% Stock to deliver more value for investors!
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HDFC BANK Net Profit rises by 33.5% Stock to deliver more value for investors!

Pranay

Senior Researcher and Editor

16 Jan 2024 2 mins read

HDFC Bank declared Q3 results of FY 23-24 today i.e 16th Jan 2024, In which it reported an increase in Net Profit by 33.5% YoY Basis to Rs 16,372 Crores from Rs 12,259 Crores in the same quarter last year.

This is 2nd Quarter after the merger of HDFC Ltd & HDFC Bank.
It has reported Net Interest Income (NII) of Rs 28,470 Crore from Rs 22,990 Crore in the same Quarter in the previous year i.e. spike of almost 23.9%.

HDFC BANK Asset Quality

The Gross Non-Performing Assets (NPA) is 1.26% up from 1.23% last year, while Net Non-Performing Assets (NPA) is 0.31% from 0.33% last year.

The largest private sector bank has raised by almost 50% Provisions to Rs 4,216 Crores. This shows that the Bank is not confident about the recovery of more assets which is the biggest negative sign in the whole result.

Balance sheet analysis of HDFC BANK

Bank’s total Advances rose to Rs 24.69 lakh crore, which is increased by 62.4%. Retail Loans of the Bank grew by 111%, commercial and rural loans grew by 31% and Corporate & Wholesale loans grew by 11.2%.


Total Deposits of banks increased to Rs 28.47 lakh crore from Rs 22.29 lakh crore last year, which is an increase of 27.7%. Current Account Saving Account (CASA) deposits also grew by 9.5%.

Summary of HDFC BANK Result

HDFC Bank has given mixed results.
Positive: Advances, Deposits, NII & Net Profit increased rapidly.
Negative: Asset Quality has degraded as GNPA increased slightly and the Bank has increased provisions heavily.

2.4/5 - (10 votes)

About the author

Pranay

Senior Researcher and Editor

Pranay is the co-founder of DailyBulls.in, a trader-focused market research and learning platform, and OIHelper.com, a platform focused on open interest analysis. He has 5+ years of experience following Indian markets, with core interests in technical analysis, stock screeners, open interest analysis, and structured research workflows.He is also a coder and spends much of his time building custom stock screeners, research tools, and AI-assisted workflows that help organize market data, improve research efficiency, and make technical learning more practical for traders and market learners. Through DailyBulls.in, he shares educational content, research-driven articles, and workflow ideas built around technical analysis, market behavior, and data-backed learning.His work has also been referenced in academic publishing, including an MDPI-published paper in the Journal of Risk and Financial Management.

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