HDFC Bank results first Cut: Profitability higher than Edelweiss estimate; reported one of the lowest ever GNPA
Edelweiss says while Net Revenue stood at Rs 238bn (+14% YoY), in-line with their estimate of Rs 234 bn, PPoP stood at Rs 152 bn (+ 17% YoY), in-line with Edelweiss estimate of Rs 150 bn. PAT came at Rs 87.6 bn (+ 18% YoY), higher than their estimate of Rs 80 bn, mainly because of credit cost which came in at 1.3% against Edelweiss estimate of 1.6%. GNPA at 0.81% is one the lowest ever GNPA reported by the bank.
All in all a good result from the largest private bank highlights the fundamentals of the Indian Economy: Reuters