HDFC Bank Q4 Results FY2023, Net profit at Rs. 12,594.5 crores

On 15th April, HDFC Bank announced its results for the quarter.

Key Highlights:

- The Bank's consolidated net revenue grew by 20.3% to Rs.34,552.8 crore for the quarter ended March 31, 2023.
- The consolidated net profit for the quarter ended March 31, 2023 was Rs.12,594.5 crore, up 20.6% YoY. 
- The consolidated net profit for the year ended March 31, 2023, was Rs.45,997.1 crore, up 20.9% YoY.

Other Highlights:

- Operating expenses for the quarter ended March 31, 2023 were Rs.13,462.1 crore, an increase of 32.6% YoY. 
- The cost-to-income ratio for the quarter was at 42.0%. 
- Pre-provision Operating Profit (PPOP) was at t 18,620.9 crore. PPOP, excluding net trading and mark-to-market income, grew by 14.4% YoY. 
- The total credit cost ratio was at 0.67%, as compared to 0.96% for the quarter ending March 31, 2022.
- Total balance sheet size as of March 31, 2023 was Rs.2,466,081 crore, a growth of 19.2% YoY. 
- Total Deposits showed healthy growth and were at Rs.1,883,395 crore as of March 31, 2023, an increase of 20.8% over March 31, 2022. 
- CASA deposits grew by 11.3% with savings account deposits at Rs.562,493 crore and current account deposits at Rs.273,496 crore. 
- Time deposits were at Rs.1,047,406 crore, an increase of 29.6% over the corresponding quarter of the previous year, resulting in CASA deposits comprising 44.4% of total deposits as of March 31, 2023. 
- Total advances as of March 31, 2023, were Rs.1,600,586 crore, an increase of 16.9% over March 31, 2022. 
- Gross of transfers through inter-bank participation certificates and bills rediscounted, total advances grew by 21.2% over March 31, 2022. 
- Domestic retail loans grew by 20.8%, commercial and rural banking loans grew by 29.8%, and corporate and other wholesale loans grew by 12.6%. 
- Overseas advances constituted 2.6% of total advances
- Gross non-performing assets were at 1.12% of gross advances as on March 31, 2023.
- Net non-performing assets were at 0.27% of net advances as on March 31, 2023.
- As of March 31, 2023, the Bank's distribution network was at 7,821 branches and 19,727 A TMs / Cash Deposit & Withdrawal Machines (CDMs) across 3,811 cities/towns. 

The Board of Directors recommended a dividend of Rs.19.0 per equity share of Rs.1 for the year ended March 31, 2023