Q4 Results for HDFC Bank: Share Price Target Known; Performance Expectations?
Preview of HDFC Bank’s Q4 FY24 Results: On April 20, HDFC Bank is expected to release its fourth-quarter financial results. For the last three months of the preceding fiscal year, from January to March 2024, analysts predict the bank would do well financially, with steady profitability and somewhat improved steady asset quality.
Zee Business analysis indicates that HDFC Bank is expected to report a standalone net profit for the March quarter of Rs 15,800 crore, which would represent a 31.2 percent rise over the same time last year. The difference between interest generated and interest paid, or the lender’s quarterly net interest income (NII), was anticipated by the experts to be Rs 29,300 crore, up 25.5% from the previous year.
Estimating HDFC Bank’s Q4 Results
Axis Securities predicted that HDFC Bank’s quarterly pre-provision operating profit (PPoP) will reach Rs 24,393 crore, up 31% year over year, according a Zee Business article. In addition, the brokerage company projected that HDFC Bank’s net profit for the fourth quarter would be Rs 15,755 crore, up 30.8% from the same time last year.
HDFC Bank Share Price Target 2024 JM Financials rated HDFC Bank stocks as “buy” in its report dated April 12, with a current market price of Rs 1,536 a share. It set the stock’s target price at Rs 2,010 per share, with a 30.8 percent upside.
A buy call was issued by brokerage Sharekhan for HDFC Bank, with a target price of Rs. 1900 per share.
HDFC Bank’s Q4 financial report
As per the business report provided by HDFC Bank, as of March 31, deposits at the bank had increased by 7.5% on a sequential basis to Rs 23.8 lakh crore.
Additionally, on a quarter-over-quarter basis, its gross loans rose by 1.6 percent to Rs 25.08 lakh crore, and its CASA ratio improved to 38.2 percent from 37.7 percent.
HDFC Bank shares: Historical performance HDFC Bank shares were 15.3% down at the end of the March quarter, lagging behind the Nifty50 and Nifty Bank indexes, which increased by 2.7% and decreased by 2.4%, respectively.
