HDFC Bank Ltd Q1 FY24; 29% Increase in Profits

The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an ‘in principle’ approval from the Reserve Bank of India (RBI) to set up a bank in the private sector. HDFC Bank is a publicly held banking company, the bank was incorporated in August 1994 in the name of ‘HDFC Bank Limited’, with its registered office in Mumbai, India. It is engaged in providing a range of banking and financial services including retail banking, wholesale banking and treasury operations. It is promoted by HDFC Ltd. which has 19.32% stake as on September 30, 2020. Currently, HDFC Bank Ltd. (HBL) is the largest private sector bank in India.

Financial Results:

• HDFC Bank Ltd reported Revenues for Q1 FY24 of ₹51,168.00 Crores up from ₹37,274.00 Crore year on year, a rise of 37.28%.
• Total Expenses for Q1 FY24 of ₹44,425.00 Crores up from ₹31,379.00 Crores year on year, a rise of 41.58%.
• Consolidated Net Profit of ₹12,403.00 Crores up 28.97% from ₹9,617.00 Crores in the same quarter of the previous year.
• The Earnings per Share is ₹22.13, up 28.29% from ₹17.25 in the same quarter of the previous year.

*It is important to note that the way the results have been accounted for are slightly different than the ones the companies may choose to publish.
*The presented data is automatically generated. It may occasionally generate incorrect information.