April, 2025 – The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter and year ended March 31, 2025, at its meeting held in Mumbai on Saturday, April 19, 2025. The accounts have been subjected to an audit by the statutory auditors of the Bank.
The Bank’s consolidated net revenue was ₹ 732.8 billion for the quarter ended March 31, 2025. The consolidated profit after tax for the quarter ended March 31, 2025 was ₹ 188.3 billion. The consolidated PAT adjusted for trading and mark to market gains, prior year one-off provisions and prior year tax credits, grew by approximately 10%. The consolidated PAT for the year ended March 31, 2025 was ₹ 707.9 billion. Earnings per share for the quarter ended March 31, 2025 was ₹ 24.6 and ₹ 92.8 for the year ended March 31, 2025. Book value per share as of March 31, 2025 was ₹ 681.9.
The Bank’s net revenue was ₹ 440.9 billion for the quarter ended March 31, 2025 as against ₹ 472.4 billion (which included transaction gains of ₹ 73.4 billion from stake sale in subsidiary HDFC Credila Financial Services Ltd) for the quarter ended March 31, 2024.
Net interest income (interest earned less interest expended) for the quarter ended March 31, 2025 grew by 10.3% to ₹ 320.7 billion from ₹ 290.8 billion for the quarter ended March 31, 2024. Net interest margin was at 3.54% on total assets, and 3.73% based on interest earning assets. Excluding ₹ 7 bn of interest on income tax refund, core net interest margin was at 3.46% on total assets, and 3.65% based on interest earning assets.
Other income (non-interest revenue) for the quarter ended March 31, 2025 was ₹ 120.3 billion. The four components of other income for the quarter ended March 31, 2025 were fees & commissions of ₹ 85.3 billion (₹ 79.9 billion in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of ₹ 14.4 billion (₹ 11.4 billion in the corresponding quarter of the previous year), net trading and mark to market gain of ₹ 3.9 billion (gain of ₹ 75.9 billion including transaction gains of ₹ 73.4 billion in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend of ₹ 16.7 billion (₹ 14.4 billion in the corresponding quarter of the previous year).
Operating expenses for the quarter ended March 31, 2025 were ₹ 175.6 billion as against ₹ 179.7 billion (which included staff ex-gratia provision of ₹ 15.0 billion) during the corresponding quarter of the previous year. The cost-to-income ratio for the quarter was at 39.8%.
Provisions and contingencies for the quarter ended March 31, 2025 were ₹ 31.9 billion as against ₹ 135.1 billion (which included floating provisions of ₹ 109.0 billion) for the quarter ended March 31, 2024.
Profit before tax (PBT) for the quarter ended March 31, 2025 was at ₹ 233.4 billion. Profit after tax (PAT) for the quarter was at ₹ 176.2 billion. PAT, adjusted for trading and mark to market gains, prior year one-off provisions and prior year tax credits, grew by approximately 10% over the quarter ended March 31, 2024.
Total balance sheet size as of March 31, 2025 was ₹ 39,102 billion as against ₹ 36,176 billion as of March 31, 2024.
The Bank’s average deposits were ₹ 25,280 billion for the March 2025 quarter, a growth of 15.8% over ₹ 21,836 billion for the March 2024 quarter, and 3.1% over ₹ 24,528 billion for the December 2024 quarter.
The Bank’s average CASA deposits were ₹ 8,289 billion for the March 2025 quarter, a growth of 5.7% over ₹ 7,844 billion for the March 2024 quarter, and 1.4% over ₹ 8,176 billion for the December 2024 quarter.
