HDFC Bank announced the date of its quarter 2 results of FY24 on 4th October 2023. After the news, Dalal Street is excited after the HDFC Bank Q2 Results 2024. Definitely, if you are a shareholder of this bank, you are excited due to various various reasons not only because of its share price. It is the leading private sector bank in India and which have a huge market capitalisation in its sector. Currently, the share is traded at Rs 1,526. But it is the expectation that it may become bullish after the financial results.
HDFC Bank Q2 Results 2024 Fiscal Period Revenue, Net Profit, Loss, Earning Report
HDFC Bank Q2 Results 2024 has been released on 4th October 2023. The official report is available here. As per the latest information, this month all the listed companies going to release their quarterly results of their earnings. This is a kind of big event in the Indian stock market. Bank Nifty and Nifty Fifty show the clear sentiments of retail investors. There are some stocks performing really well because of the positive expectation of quarterly results. Now coming to the quarterly results of HDFC Bank. so, we have several points to discuss first.
In the July-September quarter of FY24, HDFC Bank’s combined current account and savings account (CASA) deposits reached approximately Rs 8.17 lakh crore, reflecting a 7.6 percent year-on-year increase compared to the Rs 7.59 lakh crore recorded last year.
Previously, HDFC Bank marked a net profit of ₹11,580 crore for the April-June period, showing an increase of 25.9% compared to the same period last year. Along with it, the consolidated net revenue grew by 25.94% year-on-year (YoY) to ₹35,067 crore for Q1FY24. These are some key highlights of the last quarter results of HDFC Bank Ltd.
Investors are expecting good results same as last quarter which is also a good sign for the share price of the company. In the previous quarter, assets declined but there was not much impact on the share price.
Reserve Bank of India (RBI) also doing MPC meetings which will definitely impact the Indian Banks. However, the official conclusion of RBI MPC meeting is yet to come among all of us. Read more business news on our website and follow for latest business headlines.