*HDFC Bank Ltd. -S* | *CMP* Rs. 1229 | *M Cap* Rs. 672330 Cr | *52 W H/L* 1285/940
(Nirmal Bang Retail Research)
*Result is inline with expectations*
*Slippages figure came at 3714cr Vs qoq 4225cr yoy 3285*
Net Interest Income came at Rs. 13515 Cr vs expectation of Rs. 13033.7 Cr, YoY Rs. 11763.4 Cr, QoQ Rs. 13294.3 Cr
Non Interest Income came at Rs. 5588.7 Cr vs expectation of Rs. 5200 Cr, YoY Rs. 4015.6 Cr, QoQ Rs. 4970.3 Cr
PBP came at Rs. 11698.1 Cr vs expectation of Rs. 11387.9 Cr, YoY Rs. 9480 Cr, QoQ Rs. 11147.2 Cr
Provisions came at Rs. 2700.7 Cr vs expectation of Rs. 2548.5 Cr, YoY Rs. 1820 Cr, QoQ Rs. 2613.7 Cr
Adj. PAT came at Rs. 6345 Cr vs expectation of Rs. 6269.1 Cr, YoY Rs. 5005.7 Cr, QoQ Rs. 5568.2 Cr
Gross NPA came at Rs. 12508.2 Cr vs QoQ Rs. 11769 Cr at 1.38% vs QoQ 1.4%
Net NPA came at Rs. 3791 Cr vs QoQ Rs. 3567.2 Cr at 0.42% vs QoQ 0.43%
Quarter EPS is Rs. 11.6
Share is trading at P/E of 25.8x FY20E EPS & 4.4x trailing P/Adj. BV