Money

HDFC Bank Q3 FY24 Earnings Show Strong Growth, Stock Performance Up After Release


HDFC Bank has reported impressive financial results for the third quarter of the fiscal year 2024, showing robust growth across key metrics.

The bank’s net profit surged 33.5% year-over-year, reaching ₹16,372.5 crore, exceeding market expectations. This significant increase in profit highlights HDFC Bank’s resilience and strong financial management despite the prevailing economic challenges.

The bank’s Net Interest Income (NII) stood at ₹28,470 crore, marking a 24% growth compared to the same period last year.

This solid performance reflects the bank’s ability to capitalize on favorable interest rate conditions and continue its lending growth.

HDFC Bank’s asset quality remains stable, with gross Non-Performing Assets (NPAs) at 1.26% of gross advances, slightly up from 1.23% in Q3 of FY23. The bank’s prudent risk management strategy has helped mitigate the impact of any asset quality deterioration.

The market has reacted positively to the earnings report, with HDFC Bank’s stock showing a rise. As of the latest trading session, the bank’s shares are priced at $58.86, reflecting a 0.82% increase from the previous close.

The stock touched an intraday high of $59.03 and an intraday low of $58.4, further indicating investor confidence post-earnings.

Analysts believe that HDFC Bank’s strong fundamentals, coupled with its stable asset quality and growth in net interest income, position it well for continued success.

The positive stock performance after the earnings report demonstrates that investors are optimistic about the bank’s future prospects.

Key Highlights from Q3 FY24:

  • Net Profit: ₹16,372.5 crore (+33.5% YoY)
  • Net Interest Income: ₹28,470 crore (+24% YoY)
  • Gross NPAs: 1.26% (up slightly from 1.23% YoY)

This solid quarter reflects HDFC Bank’s ability to navigate challenges in a volatile environment, providing a sense of confidence among investors looking for stability and growth in the banking sector.

Also Read

HDFC Bank Stock Declines Ahead of Q3 FY25 Earnings Announcement

Capital Numbers Infotech IPO Oversubscribed by Over Six Times

theafricalogistics

Recent Posts

Google Stock Surges as Investor Confidence Grows Following Tech Sector Rally

Alphabet Inc. (NASDAQ: GOOGL), the parent company of Google, saw its shares surge on Friday,…

1 day ago

Is a 2.8% COLA Enough to Beat Inflation in 2026?

The Social Security Administration (SSA) has confirmed a 2.8% cost-of-living adjustment (COLA) for 2026, impacting…

1 day ago

How Alaska Airlines’ Outage Exposed a Hidden Risk for African Airlines

Alaska Airlines was forced to cancel more than 360 flights after a major IT outage…

1 day ago

Inside Tesla’s Q3 Earnings Miss: Price Cuts, Profit Drops, and the Robotaxi Gamble

Tesla’s third-quarter 2025 results painted a challenging picture for the EV giant. Despite strong delivery…

2 days ago

Inside Meta’s AI Reshuffle: Why 600 Jobs Were Cut in the Race Toward Superintelligence

In a bold restructuring move, Meta Platforms Inc. has laid off around 600 employees from…

3 days ago

SASSA November 2025 Payment Schedule: Key Dates, Policy Insights, and What Beneficiaries Should Expect

As South Africa prepares for the November 2025 grant cycle, millions of social grant beneficiaries…

5 days ago