HDFC Bank Stock Surges By 2.3% Post Normal Q4 Results

HDFC Bank has come up with its Q4 result for the quarter ended March 31, 2017. While the HDFC Bank officials are talking with the media channels the stock has witnessed sharp upward movement from its morning share price.

The bank reported 18.25% increase in its net profit for the Q4 on a YoY basis which stands at Rs 3990 Cr. The bank had reported Rs 3374 Cr of net profit in the previous year.

The bank officials in their press meeting told the media that they would normalise fixed deposit growth post Q4 results while the provisions were rising due to NPA related provisions of Q3. NII growth was primarily driven by loan book growth and NIM expansion. A substantial rise in the wholesale book was mainly due to working capital and short term loans. The retail book was seen 26.6% up while the wholesale book was up by 20.7%.

As per the market experts, the overall numbers in the quarterly result of HDFC Bank are normal. As of 1453 hours on BSE, the stock is trading higher by 2.2% at Rs 1494 per share.

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