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HDFC Bank has declared its third quarter results of FY10. It has reported jump of 31.51% in its Q3 net profit of Rs 818 crore as against Rs 622 crore in the same quarter of previous year. Net interest income (NII) was at Rs 2,223 crore. O ther income went down at Rs 853 crore from Rs 939.4 crore and provisions declined to Rs 447.7 crore versus Rs 531.8 crore. Capital adequacy ratio (CAR) stood at 18.3% and gross non-performing assets (NPA) slipped to 1.6% versus 1.8%.

HDFC Bank has announced its second quarter results of FY10. Its Q2 net profit surged 30.21% to Rs 687.5 crore from Rs 528 crore on year-on-year basis, (YoY). NII (net interest income) was up 4.8% at Rs 1,955.8 crore versus Rs 1,866.4 crore (YoY). Other income rose 56.65% to Rs 1,007.4 crore from Rs 643.1 crore.

HDFC Bank has posted a net profit of Rs 606.11 crore for the quarter ended June 30, 2009 as compared to Rs 464.35 crore for the quarter ended June 30, 2008. Total Income has increased from Rs 4215.15 crore for the quarter ended June 30, 2008 to Rs 5136.75 crore for the quarter ended June 30, 2009. Its Q1 net interest income was up 7.66% from Rs 1723.47 crore to Rs 1855.5 crore, YoY. The company’s other income was up 75.76% from Rs 593.2 crore to Rs 1043 crore, YoY. Its Q1 provisions are up 91.24% from Rs 344.47 crore to Rs 658.82 crore, YoY. HDFC Bank Q1 loans grew 7.7% to Rs 1.05 lakh crore Particulars Jun-09 Mar-09 Dec-08 Sep-08 Interest Earned / Operating Income 4093.1 4250.83 4468.5 3991.21 Interest on Advance 3017.75 3097.17 3337.96 3060.77 Income on Investment 1033.44 1126.39 1028.21 896.65 Interest on Balances 35.51 26.49 100.52 32.99 Others Interests 6.4 0.78 1.81 0.8 Other Income 1043.65 1114.69 939.39 643.11 Total Income 5136.75 5365.52 5407.89 4634.32 Interest Expended -223...

Given that the credit environment is challenging it’s not surprising that the pace of growth at HDFC Bank is slowing down — advances for the March 2009 quarter are more or less at similar levels as they were in the December 2008 quarter. That appears to be a conscious decision and not a bad one since the bank is holding excess government securities and can step up the acquisition of assets as and when the environment is more conducive to lending. Moreover, the bank has sustained the net interest margin (NIM) at 4.2 per cent, which was lower by about 10 basis points sequentially, helped by a larger proportion of current and savings accounts which was up at 44 per cent. In fact the nim has ranged between 3.8 and 4.3 per cent over the last 16 quarters. The growth in the bank’s fee income continues to be remarkably strong, reflecting the tremendous strength of the bank’s corporate clientele. Net profits for the quarter have also been driven by bond gains and some savings in staff costs. Wh...

 India's HDFC Bank Ltd. Thursday said its financial fourth-quarter net profit rose 34% from a year earlier, boosted by a jump in interest income. Net profit for the three months ended March 31 rose to 6.31 billion rupees from 4.71 billion rupees a year earlier. Total income for the quarter surged 53% to 53.66 billion rupees from 35.06 billion rupees a year earlier, aided by a 44% rise in interest income to 42.51 billion rupees.

Benefits not clear at this (The Hindu Business Line 26th Feb 2008)The merger of Centurion Bank with HDFC Bank marks another step in the slow and steady consolidation that is happening in the banking space. Recent bank mergers in the country have usually been triggered because one of the institutions was in trouble. Whether it was Global Trust Bank earlier, or more recently United Western Bank or Sangli Bank, they had to be bailed out by stronger institutions. In all three cases, the regulator had to play mid-wife and see the deal through. Only in the case of IDBI Bank, which took over the ailing United Western Bank, was the motive immediately visible. It lacked distribution muscle. Whether Oriental Bank that took over Global Trust needed a presence in the south, or ICICI Bank that took over Sangli Bank, needed a rural portfolio (the official reasons given), remains a matter of debate. HDFC Bank’s senior management is on record that the deal would offer them scale and size. Why this was...

HDFC Bank, Centurion boards okay merger (Business Standard 25th Feb 2008)The boards of directors of HDFC Bank and Centurion Bank of Punjab (CBoP) today separately gave their in-principle approvals for merger of the two banks. HDFC Bank is expected to pay Rs 10,000-Rs 12,000 crore in shares for absorbing CBoP. Independent firms — Dalal & Shah and Ernst & Young — appointed by the two banks would work over the weekend to prepare their reports on the valuation of CBoP in time for boards of the two banks to consider when they meet again on Monday (February 25) to consider the swap ratio for the all-stock deal. The boards of both banks will meet on February 25 to consider the swap ratio and on February 28, to consider the draft scheme of amalgamation and any other matters as required. Consulting firm KPMG is the advisor to HDFC Bank and investment bank Ambit Corporate Finance to Centurion Bank. “ The swap ratio is expected to be around 1:25-30,” said a banking source. The merger wil...

The Economic Times (18th Feb 2008) HDFC Bank Research:Indiabulls financials Rating: Buy CMP: Rs 1,564 Target price Rs 1,715 Maharashtra seamless Research:HSBC Rating:Overweight CMP:Rs 371 Target price o Rs 655 Bharat Forge Research:Edelweiss Rating:Accumulate CMP:Rs 390

Stocks to buy: Bharti Airtel, Indiabulls Fin Services, Bank of India, HDFC Bank (The Economic Times 28th Jan 2008)) Research By Stock CMP Target Recommendation Motilal Oswal Indiabulls Fin Services Rs. 779 NA Buy Morgan Stanley Bank of India Rs 395 Rs 525 Overweight Edelweiss HDFC Bank Rs 1,601 NA Buy More

Anu Jain, technical advisor expressed her opinion about HDFC Bank on CNBC Awaaz. According to her resistance for the stock would come at Rs 1,700. She thinks at Rs 1,500 one should consider entering the stock. It is currently trading at 1639.95 on the BSE up by about 9%.

Ispat offers to supply steel for Tata Motor's Nano (The Economic Times 22th Jan 2008)Domestic steel maker Ispat Industries may become the first company outside the Tata fold to supply steel for Tata Motor's lakhtakia car Nano. The company has initiated talks with Tata Motors for supplying auto grade hot roll coils (HRC) for Nano scheduled for launch later this year. “We have started dialogue Tata Motors for supplying HRC required for its small car Nano. As the company is already an established supplier of steel to Tata Motors, we are hopeful to be part of Nano project too,” Ispat Industries (IIL) executive director (marketing) Vinod Garg said. IIL is currently meeting roughly 80% of HRC requirements of Tata Motors for its Pune plant. With the addition of Nano, the company would become the single largest domestic steel supplier for Tata Motors. Apart from IIL, Tata Steel and other global players supply steel to Tata Motors. More HDFC Bank net rises 45% to Rs 429 cr (Business St...