HDFC Bank’s financial journey in 2024 has been nothing short of exceptional. With consistently strong quarterly results, prudent financial management, and a commitment to shareholder value through dividends, the bank has positioned itself for continued growth.
As the financial landscape evolves, HDFC Bank stands as a beacon of stability and success in the Indian banking sector. Delve into this article to know HDFC Bank results Q2 2024 and Q3 results as well.
HDFC Bank Q1 results 2024 date
The journey of success began in Q1 FY24 when HDFC Bank reported its results on July 17th, 2023. Surpassing market expectations, the bank recorded a net profit of Rs 11,951 crore. This marked a significant increase from Rs 9,196 crore in the previous year, driven by a robust 19.2% growth in deposits and strong income from various streams. The results portrayed the bank’s resilience and growth potential in the face of a dynamic economic environment.
HDFC Bank results Q2 2024
HDFC Bank has set the financial world abuzz with its outstanding performance in Q2 2024. The bank’s net profit soared by an impressive 51%, reaching a staggering ₹15,976 crore. This remarkable achievement was fueled by a robust 30% surge in net interest income and a 30.5% jump in pre-provision operating profit.
Notably, the bank maintained a strong core net interest margin, showcasing its prowess in lending. Lower provisions and contingencies further added to the positive outlook, solidifying HDFC Bank’s position as a leader in the Indian banking sector.
HDFC Bank results Q2 2024
Building on its Q1 success, HDFC Bank’s Q2 2024 results (July-September 2023) were nothing short of stellar. The net profit surged by an impressive 50.6%, reaching ₹15,976 crore compared to the same period last year. This remarkable growth was supported by a 30.3% increase in net interest income and a 22.12% growth in diluted earnings per share.
The core net interest margin remained healthy at 3.65%, and provisions and contingencies saw a welcome decrease. The results underscored the bank’s commitment to strong growth and its continued momentum as India’s largest private lender.
HDFC Bank Results Q3 2024
HDFC Bank’s Q3 2024 results, unveiled on January 16th, 2024, continued the trend of impressive growth. The net profit recorded a robust 34% year-over-year growth, reaching Rs. 16,372 crore, surpassing analyst expectations. A 24% increase in net interest income to Rs. 28,471 crore showcased the bank’s strong loan growth and healthy margins.
However, with a slight moderation in deposit growth quarter-on-quarter and a rise in provisions, some caution in the economic outlook was indicated. Despite these considerations, the overall results remained positive, leaving investors cautiously optimistic while keeping an eye on potential headwinds.
HDFC Bank Dividend
In 2024, HDFC Bank has already distributed two dividends, underlining its commitment to shareholder value. The interim dividend of ₹19 per share in August and a final dividend of ₹19 per share in November brought the total dividend for the year to ₹38 per share.
This represents a payout ratio of 24.07% and a dividend yield of around 1.18%, based on the current share price. The dividends reflect the bank’s robust financial health and its ability to reward its investors.