The penultimate week of April has gotten off to rocky start for HDFC Bank. In the first week after the earnings result for the fourth quarter and for the whole financial was published, the HDFC shares are trading at a deficit of over one per cent in the early hours of the day, on Monday.
Bank Registers a 37 per cent Jump In Profits
HDFC filed its quarterly and yearly earnings result and published it with the exchanges on 20 April. The standalone net profit stood at Rs 16,511.85 crore for the fourth quarter, compared Rs 12,047.45 crore in the previous year. Thereby showing a 37.05 per cent jump in profits. When we look at the yearly numbers, the net profit for stood at Rs 60,812.27 crore, compared to Rs 44,108.71 in the previous year. Exhibiting a 37.86 per cent jump in profit.
Meanwhile, HDFC bank's consolidated net profit for the last quarter of the FY stood at Rs 18,012.87 crore, compared to Rs 12,634.01 crore. Thereby seeing a 42.57 per cent jump in net profit for the quarter. Similarly, the yearly numbers stood at Rs 65,446.50 crore. In comparison to the previous year, when the profit numbers were stacked at Rs 46,148.70 crore. The jump here is of 41.87 per cent in all.
HDFC Shares Slump
Currently, HDFC Bank shares are trading at Rs 1,516.50, after declining by 0.97 per cent at 10:31 IST.
This also happens at a time, when the markets after a rather gloomy and tumultuous week started the new trading week on a positive note in green, in fact, Sensex began at 73,462.17, up by 373.84 points, and Nifty at 22,264.75, up by 117.75 points.
In addition, the HDFC bank has recommended a dividend of Rs 19.5 per equity share of Rs 1, which will be proposed in the next annual meeting of the entity.
This week is going to be crucial for the markets, as major companies listed on the markets, including the likes of RIL, Axis Bank and conflict-ridden Nestle are expected to publish their earnings for the quarter.
