HDFC Bank Q2 Results Live Updates: HDFC Bank, the largest private sector lender in the country, is set to announce its earnings for the second quarter of FY24 on Monday, 16 October, 2023.
This will be the first quarterly financial result of HDFC Bank after it was merged with mortgage lender Housing Development Finance Corporation (HDFC) effective July 1.
The bank is expected to see a rise in Q2FY24 net profit but the creation of excess liquidity could affect the net interest margin. Stay tuned to our HDFC Bank Q2 Results Live Blog for the latest updates
HDFC Bank share price traded lower Monday afternoon ahead of the release of Q2 results later today. HDFC Bank shares made an intraday low of ₹1,522.00 apiece, falling 0.95% from previous close of ₹1,536.75 apiece on the BSE.
For HDFC Bank, Q2 could be a bottoming out quarter and should be a key beneficiary of margin recovery from Q3, which coupled with reasonable valuations among peers should drive up the stock, Emkay Financial Services said.
Higher deposit growth coupled with merger/regulatory drag should weigh on margins and, thus, profitability. The bank is expected to report higher NPAs on a merged basis, it added.
HDFC Life Insurance Company on Friday reported a consolidated net profit of ₹378 crore for the second quarter of FY24, registering a growth of 15% from ₹329 crore in the same quarter last fiscal.