HDFC Bank Q2 FY27: PAT Up 4.7% to ₹195.1B, NPA Ratio Improves to 1.11%
HDB is trading near its 52-week low of $21.705 (5.6% above the low).
Summary
HDFC Bank reported Q2 FY27 PAT of ₹195.1 billion, up 4.7% year over year (about 12.6% excluding treasury gains), with gross NPAs improving to 1.11% and deposits up 18.8%.
Key Events · Earnings and Guidance · HDB
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Q2 PAT Rises 4.7% to ₹195.1B
Standalone PAT was ₹195.1 billion versus ₹186.4 billion a year ago; excluding treasury trading gains, profit grew about 12.6%.
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NII Up 9.7%, Margin at 3.16%
Net interest income reached ₹346.2 billion; NIM was 3.16% on total assets and 3.32% on interest-earning assets, with cost-to-income at 39.1%.
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Asset Quality Improves Again
Gross NPAs fell to 1.11% of advances from 1.17% in June and 1.24% a year ago; net NPAs were 0.37% and credit cost 0.44% for the quarter.
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Deposits Up 18.8%, Advances Up 16.3%
EOP deposits were ₹33,274 billion and gross advances ₹32,195 billion; CASA made up 31.6% of deposits as time deposits grew 22.8%.
Analysis · HDB · Finance
The headline 4.7% year-over-year rise in September-quarter profit to ₹195.1 billion understates the core trend: excluding treasury trading gains, PAT grew about 12.6%, and net interest income rose 9.7% to ₹346.2 billion. Asset quality improved for a third straight quarter, with gross NPAs down to 1.11% of advances from 1.24% a year ago, while the balance sheet expanded 14% to ₹45,778 billion on 18.8% deposit growth. Margin remains the soft spot: NIM of 3.16% on total assets and a 39.1% cost-to-income ratio show funding costs and opex still pressuring profitability. The results land three weeks before CEO Sashidhar Jagdishan retires on October 26 and Anup Bagchi takes over October 27 — a clean handover with the franchise growing and credit costs contained at 0.44%.
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