Hdfc bank reported Q2 Profits today: Net profit rises 50% to Rs 15,976 crore
Hdfc Bank’s consolidated net revenue grew by 114.8% to 66,317 crore for the Q2FY23 from the same quarter last year net revenue was 30,871 crore.
Consolidated profit after tax for the half year ended 30th Sept 2023 was Rs29,182 crore up to 40.9%.
Net Revenue up to 33.1%YoY to Rs 38,093 crore, Nil rises 30.3% to Rs27,385 crore. Operating expenses rose to 37.2% YoY to ₹15,399 cr.
Other income was ₹10,708 crore. Deposits showed a healthy growth of approx ₹1.1 lakh crore or 29.8% YoY to ₹21,72,858cr. CASA deposits grew by 7.6 % with the savings account deposits at Rs5,69,956 cr and current accounts deposits standing at ₹2,47,749 cr.
HDFC BANK YEARLY PERFORMANCE
Net revenue at ₹70,922 crore vs ₹54,486 YoY, Total income at ₹ 1,36,233 cr vs ₹87,742 cr YoY.
PAT at ₹27,892 crore up by 41 YoY
HDFC bank prediction for tomorrow
As per the technical view, the stock has given a breakdown of the support levels of 1560 and currently stock is trading below it.
the stock reached a low of 1489 and after that, we saw a recovery in the stock, and after that stock is in the range. we need the price to close below 1489 to 1560 levels to get a proper outlook.
overall stock is looking bearish till trading below 1560 and can move forward to the 1280 levels.