HDFC Bank Q4 2024 Results Live: India's Top Private Lenders Earnings Out on April 20

HDFC Bank is set to unveil its fourth-quarter results for the fiscal year 2024 on April 20, stirring anticipation among investors and analysts alike. As India's largest private sector bank and a heavyweight on the NIFTY50 index, HDFC Bank's performance carries significant weight in the financial landscape.

Analysts are closely watching HDFC Bank's Q4FY24 results, expecting decent growth in net profit driven by treasury income. The banking sector's performance during the January-March 2024 quarter is anticipated to reflect a mix of factors, including net interest margin (NIM) pressure, steady loan growth, softer deposit growth, and cost pressures arising from impending wage hikes and pension provisions.

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In the previous quarter, HDFC Bank posted a robust 33% increase in net profit, reaching ₹16,372 crore in Q3FY24 compared to ₹12,259 crore a year earlier. However, the bank's loan growth in Q4FY24 remained subdued, with a modest 1.6% increase on a quarter-on-quarter basis. Notably, retail and commercial loan segments exhibited a stronger growth trajectory at 4%, while wholesale advances, excluding non-individual loans, experienced a 2% decline. This strategic shift aims to reduce the proportion of lower-yielding corporate loans and enhance margins.

Despite the modest loan growth, HDFC Bank witnessed a notable surge in deposits, soaring by 7.5% to reach ₹1.6 lakh crore. Total advances surged by 55%, with deposits escalating by 26% year-on-year. Retail deposits witnessed a significant 27.8% uptick, totaling ₹9.09 lakh crore. While the share of low-cost deposits slightly decreased to 38%, the bank's gross advances stood at ₹25.08 lakh crore, reflecting robust growth across various sectors.

Eshan Kaul, Senior Vice President at JP Morgan, noted the positive outlook for Indian private sector banks despite short-term challenges. Private banks continue to gain market share in deposits, with loan growth remaining robust at around 15%. However, rising interest rates and deposit competition may exert pressure on margins in the near term. Nevertheless, private sector banks are well-positioned to capitalize on growth opportunities, leveraging strong balance sheets and technological capabilities.

HDFC Bank's Q4FY24 results are eagerly awaited, with analysts estimating a 24.2% growth in net interest income (NII) to ₹29,010 crore from ₹23,351.8 crore year-on-year. The bank's previous quarter performance showcased a 33% growth in net profit, reaching ₹16,372 crore, and a 24% year-on-year increase in net interest income, reaching ₹28,470 crore.

Analysts expect HDFC Bank's net profit to surge by 30% to ₹15,663 crore in Q4FY24 compared to ₹12,047.5 crore in the corresponding quarter of the previous year. The bank's treasury income for the March 2024 quarter is anticipated to stand at ₹1,000 crore.

As HDFC Bank prepares to release its quarterly results, market observers and investors eagerly await insights into the bank's performance and strategic outlook. The bank's share price closed at ₹1531.30, reflecting positive sentiment among investors ahead of the earnings announcement.

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