Largest private lender HDFC Bank missed analysts estimate during the first quarter of FY19 (Q1FY19) result announcement, as the bank posted a net profit of Rs 4,601.44 crore which was higher by 18.17% compared to net profit of Rs 3,893.84 crore in the corresponding period of previous year. However, Q1FY19 net profit was a decline by 4.12% from profit of Rs 4,799.28 crore in the preceding quarter. A Bloomberg poll of analysts had predicted profit of Rs 4,790 crore in Q1FY19 for HDFC Bank.

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Net Interest income (NII) was at Rs 10,813.57 crore in Q1FY19, which witnessed growth of 15.40% from Rs 9,370.74 crore in Q1FY18 and gradually up by 1.46% from Rs 10,657.71 crore in Q4FY18.

Provisions during this period stood at Rs 1,629.37 crore, witnessing increase of 4.53% as against Rs 1,558.76 crore in Q1FY18 and up by 5.72% from Rs 1,541.10 crore in Q4FY18.

Provisions were higher because, HDFC Bank surprising recorded a massive 31.70% rise in their gross NPA at Rs 9,538.62 crore in Q1FY19 versus gross NPA of Rs 7,242.93 crore in Q1FY18. This was also higher by 10.82% as against Rs 8,606.97 crore in Q4FY18.

In percentage terms, gross NPA rose to 1.33% from 1.24% in Q1FY18 and 1.30% in Q4FY18.