HDFC Bank Reports Financial Results for Q3 and Nine Months Ended December 31, 2024
Udaipur, January 22, 2025: HDFC Bank Limited has announced its financial results for the quarter and nine months ended December 31, 2024. The results, prepared under Indian GAAP, were approved by the bank’s Board of Directors at a meeting held in Mumbai. The statutory auditors have conducted a Limited Review of the accounts.
Q3 2024 Highlights (Consolidated)
- Net Revenue: ₹652.8 billion.
- Profit After Tax (PAT): ₹176.6 billion, reflecting a 13.1% growth after adjusting for trading gains, one-off provisions, and tax credits.
- Earnings Per Share (EPS): ₹23.1.
- Book Value Per Share: ₹656.6.
For the nine months ended December 31, 2024, the consolidated PAT stood at ₹519.6 billion.
Key Metrics (Standalone)
Net Revenue Growth
- Net revenue for Q3 2024 rose by 6.3% to ₹421.1 billion, compared to ₹396.1 billion in Q3 2023.
Net Interest Income (NII)
- NII for the quarter grew by 7.7% to ₹306.5 billion, up from ₹284.7 billion in the corresponding quarter last year.
- Core Net Interest Margin (NIM):
- 3.43% on total assets.
- 3.62% on interest-earning assets.
Other Income (Non-Interest Revenue)
- Totaled ₹114.5 billion for Q3 2024, compared to ₹111.4 billion in Q3 2023.
- Breakdown:
- Fees & Commissions: ₹81.8 billion (up from ₹69.4 billion).
- Foreign Exchange & Derivatives Revenue: ₹14.0 billion (up from ₹12.1 billion).
- Trading & Mark-to-Market Gains: ₹0.7 billion (down from ₹14.7 billion).
- Miscellaneous Income: ₹17.9 billion (up from ₹15.2 billion).
Performance Analysis
The results highlight robust growth in core income streams, particularly net interest income and fees & commissions, signaling strong operational performance. However, a decline in trading and mark-to-market gains moderated overall growth in other income.
