HDFC Bank Ltd. reported a rise in net profit for the second quarter of fiscal 2024.
The lender's net profit rose 50.6% year-on-year to Rs 15,976 crore, as compared with Rs 10,605 crore a year ago. It surpassed the Bloomberg estimate of Rs 14,120 crore.
Net interest income, or core income, for the bank rose 30.2% from last year to Rs 27,385 crore in the quarter. Other income increased 41% year-on-year to Rs 10,707 crore. The lender's net interest margin stood at 3.4% as of Sept. 30, as compared with 4.1% as of June 30.
ICICI Securities Ltd.'s net profit for the quarter-ended September surged amid an increase in its net income.
The brokerage’s net profit rose 41.53% to Rs 423.83 crore in the second quarter, according to its exchange filing on Monday. The company was expected to report a net profit of Rs 307.6 crore, according to analysts' estimates calculated by Bloomberg.
The net income for the company rose by 44% to Rs 1,248.51 crore in the quarter under review. The interest income rose 70.7% in the second quarter to Rs 3,880.3 million, primarily due to an increase in average MTF and fixed deposit yields, according to the investor presentation.
The revenue in the equity segment grew by 51% year-on-year, while in the derivatives segment it rose by 43%.
Here are the major quarterly results announced after market hours:
HDFC Bank Q2 FY24 (Standalone)
Net profit: Rs 15,976.11 crore vs. Rs 10,605.78 crore, up 51% YoY.
Net interest income: Rs 27,385.2 crore vs. Rs 21,021.2 crore, up 30% YoY.
Gross NPA: 1.34% vs. 1.17% (QoQ).
Net NPA: 0.35% vs. 0.30% (QoQ).
Net profit bloomberg estimate: Rs 14,120.24 crore.
Quarterly numbers are not comparable, as the HDFC-HDFC Bank merger took place on July 1, 2023.
Cyient DLM (YoY)
Revenue is up 71.51% at Rs 291.83 crore vs. Rs 170.15 crore (Bloomberg estimate: Rs 275 crore).
Ebitda is down 0.51% at Rs 23.53 crore vs. Rs 23.65 crore (Bloomberg estimate: Rs 25.2 crore).
Margin at 8.06% vs. 13.89% (Bloomberg estimate: 9.10%)
Net profit is up 106.33% at Rs 14.65 crore vs. Rs 7.1 crore (Bloomberg estimate: Rs 9.4 crore).
ICICI Securities Q2 FY24 (Standalone, YoY)
Revenue is up 44.39% at Rs 12,48.51 crore vs. Rs 864.62 crore.
Net profit is up 41.53% at Rs 423.83 crore vs. Rs 299.45 crore.
Jio Financial Services Q2 FY24 (Consolidated, QoQ)
Revenue is up 46.82% at Rs 608.04 crore vs. Rs 414.13 crore.
Net profit is up 101.3% at Rs 668.18 crore vs. Rs 331.92 crore.
CEAT Q2 FY24 (Consolidated, YoY)
Revenue is up 5.48% at Rs 3,053.32 crore vs. Rs 2,894.48 crore (Bloomberg estimate: Rs 3,044.38 crore).
Ebitda is up 124.53% at Rs 456.12 crore vs. Rs 203.14 crore (Bloomberg estimate: Rs 411.08 crore).
Margin at 14.93% vs. 7.01% (Bloomberg estimate: 13.50%)
Net profit is up 3,125.46% at Rs 207.72 crore vs. Rs 6.44 crore (Bloomberg estimate: Rs 178.95 crore).
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