BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
HDFC Bank Ltd.’s proforma gross non-performing asset remain stable at 1.37% versus 1.36% QoQ; reported GNPA declined to 1.08%.
The bank reported collection efficiency at 97% in September month which seems to be the best in the industry under current environment conditions.
Profit after tax grew by 18% YoY due to lower effective tax rate (25.7% versus 29.5% YoY) as profit before tax grew by 12% YoY.
Pre-provision operating profit grew by 18% YoY as cost to income ratio improved (37% versus 39% YoY); fee income declined by 3% YoY as bank lost Rs 7 billion on account of Covid-19.
We believe that HDFC Bank would see the best revival in growth within the sector.
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