HDFC Bank set to reveal Q3 results following merger with Housing Development Corp.
2023.10.16 00:18
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Following its merger with Housing Development Finance Corp., HDFC Bank Ltd. is set to announce its third quarter results today, Monday. The bank is expected to report a net profit of Rs 14,120.2 crore and revenue of Rs 37,049.4 crore. According to InvestingPro data, HDFC Bank Ltd. has a promising market cap of 464.47M USD and a low P/E ratio of 3.06, which could indicate an undervalued stock.
The bank’s current CASA ratio, a measure of deposits in current and savings accounts as a percentage of total deposits, stands at 37.6%. This marks a year-on-year decline. The CASA ratio is a key indicator of a bank’s financial health, with a higher ratio indicating a lower cost of funds. It’s worth noting that HDFC Bank Ltd. has seen a significant revenue growth of 77.37% according to InvestingPro data, which could be a positive sign for investors.
In addition to HDFC Bank Ltd., several other firms including Federal Bank Ltd., ICICI Securities Ltd., Jio Financial Services Ltd., Bank of Maharashtra, Jai Balaji Industries Ltd., Choice International Ltd., Tinplate Company Of India Ltd., PNGS Gargi Fashion Jewellery Ltd., Yatra Online Ltd., Oriental Hotels Ltd., and Nelco Ltd. are also slated to announce their Q3 results today.
InvestingPro Tips suggest that HDFC Bank Ltd. has been consistently increasing its earnings per share and has raised its dividend for 3 consecutive years, which could make it an attractive option for dividend investors. Additionally, the bank has been profitable over the last twelve months and analysts predict it will continue to be profitable this year. It’s also a prominent player in the Banks industry and stockholders receive high returns on book equity.
For more in-depth tips and real-time metrics on HDFC Bank Ltd. and other companies, consider subscribing to InvestingPro here. InvestingPro offers a total of 14 tips for HDFC Bank Ltd., providing a comprehensive view for potential investors.
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