January 14, 2023.
The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results
for the quarter and nine months ended December 31, 2022, at its meeting held in Mumbai
on Saturday, January 14, 2023. The accounts have been subjected to a ‘Limited Review’
by the statutory auditors of the Bank.
STANDALONE FINANCIAL RESULTS:
Profit & Loss Account: Quarter ended December 31, 2022
The Bank’s net revenue, grew by 18.3% to ₹ 31,487.7 crore for the quarter ended
December 31, 2022 from ₹ 26,627.0 crore for the quarter ended December 31, 2021.
Excluding net trading and mark to market income, the net revenue grew by 22.1% over
the quarter ended December 31, 2021.
Net interest income (interest earned less interest expended) for the quarter ended
December 31, 2022 grew by 24.6% to ₹ 22,987.8 crore from ₹ 18,443.5 crore for the
quarter ended December 31, 2021. Core net interest margin was at 4.1% on total assets,
and 4.3% based on interest earning assets.
The four components of other income for the quarter ended December 31, 2022 were
fees & commissions of ₹ 6,052.6 crore (₹ 5,075.1 crore in the corresponding quarter of
the previous year), foreign exchange & derivatives revenue of ₹ 1,074.1 crore (₹ 949.5
crore in the corresponding quarter of the previous year), net trading and mark to market
income of ₹ 261.4 crore (₹ 1,046.5 crore in the corresponding quarter of the previous
year) and miscellaneous income, including recoveries and dividend, of ₹ 1,111.8 crore
(₹ 1,112.5 crore in the corresponding quarter of the previous year). Other income,
excluding net trading and mark to market income, grew by 15.4% over the quarter ended
December 31, 2021.
Operating expenses for the quarter ended December 31, 2022 were ₹ 12,463.6 crore, an
increase of 26.5% over ₹ 9,851.1 crore during the corresponding quarter of the previous
year. The cost–to–income ratio for the quarter was at 39.6%
Pre-provision Operating Profit (PPOP) was at ₹ 19,024.1 crore. PPOP, excluding net
trading and mark to market income, grew by 19.3% over the quarter ended December
31, 2021.
Provisions and contingencies for the quarter ended December 31, 2022 were ₹ 2,806.4
crore as against ₹ 2,994.0 crore for the quarter ended December 31, 2021.
The total credit cost ratio was at 0.74%, as compared to 0.94% for the quarter ending
December 31, 2021.
Profit before tax (PBT) for the quarter ended December 31, 2022 was at ₹ 16,217.6 crore.
After providing ₹ 3,958.1 crore for taxation, the Bank earned a net profit of ₹ 12,259.5
crore, an increase of 18.5% over the quarter ended December 31, 2021.
CONSOLIDATED FINANCIAL RESULTS
The consolidated net profit for the quarter ended December 31, 2022 was ₹ 12,698 crore,
up 19.9%, over the quarter ended December 31, 2021. Consolidated advances grew by
19.2% from ₹ 1,312,142 crore as on December 31, 2021 to ₹ 1,563,799 crore as on
December 31, 2022.
The consolidated net profit for the nine months ended December 31, 2022 was ₹ 33,403
crore, up 21.0%, over the nine months ended December 31, 2021.
