HDFC bank blasts a pretty decent quarter ⚡

HDFC bank blasts a pretty decent quarter ⚡

Global markets are now entering PEAK earnings season — Dalal Street was busy decoding signals from the country’s biggest private lender last night.

Expectations were low going in, considering financial services was one of the most vulnerable segments in this mayhem, but the numbers hold up pretty well!

Quick look:

  • Profits of ₹7.7K crores, up 16.1% YoY — bit behind estimates, but forgivable
  • Interest income of ₹17K crores, up 8.6% YoY
  • Deposits of ₹13.4 lakh crores, up 13.2% YoY

Bad loans ratio stretched a tiny bit to 0.48%, (vs. 0.4%) barely 3 months ago — but things aren’t exactly out of control.

Big picture — markets will wait for other major banks to roll in to get a comprehensive picture, but considering how meek the outlook was given commentary from Bajaj Finserv and others in June, things aren’t looking that bad so far!

key and peele airplane GIF by Comedy Central