HDFC BANK, INDIA'S largest private sector bank, on Saturday reported healthy growth in its standalone Q4FY23 net profit at ₹12,047.5 crore, up 20% on a year-on-year (YoY) basis. This was primarily on the back of healthy growth in net interest income (NII) and lower provisions. However, it missed Bloomberg estimates of net profit at ₹12,137 crore (18 analysts).
HDFC Bank has recommended a dividend of 1,900%, aggregating to 19 per share, the highest ever since listing.
On a consolidated basis, the lender's bottomline rose 21% YoY to ₹12,594.5 crore, as per an exchange filing. For the full year, the standalone net profit stood at ₹44,108.7 crore (up 19.3%) and the consolidated net profit was at ₹45,997.1 crore.
The bank's numbers were boosted by moderation in gross non-performing asset (GNPA) ratio to 1.1% from 1.2% a year ago, while net NPA was flat at 0.3% at March-end.
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