HDFC Bank Results Analysis: Nirmal Bang

HDFCNII for the quarter March 09 increased by 12.8% YOY and declined by 6.4% QOQ. NII for QOQ decreased on account of reduction in interest earned.

NII for year FY09 increased by 42.0%

Profit before provisioning increased by 44.3% YOY and 7.7% QOQ. Increase in profit was on account of increase in other income.

HDFC Bank reported PAT of 630.9 crores resulting in increase of 1.5% QOQ and 33.9% YOY.

PAT for the year. FY09 increased by 41.2%. EPS for Q409 stood at 14.8 resulting in an increase of 11.6% QOQ and 41.2% YOY

At Current market price of Rs 1092 HDFC Bank is trading at 20.7 times for year FY09 and 3.17 times book value.

Gross & Net NPA of the bank stood at 1.98% & 0.6% respectively for Q4FY09 as compared to 1.9% & 0.6% respectively for Q3FY09.

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