HDB Financial Services (HDBFS) Q4 23/24 earnings summary

Executive summary

• FY 2023-24 AUM rose 28.75% to ₹90,235 crore; network reached 1,682 branches across 31 states/UTs, serving 15.5 million customers.

• Revenue grew 14.26% to ₹14,171.12 crore and PAT increased 25.59% to ₹2,460.84 crore; GNPA and NNPA improved year over year.

Financial highlights

• Total revenue was ₹14,171.12 crore versus ₹12,402.88 crore in FY23; operating profit rose 25.78% to ₹3,305 crore.

• PBT reached ₹3,304.67 crore versus ₹2,627.40 crore; PAT was ₹2,460.84 crore versus ₹1,959.35 crore.

• Interest income increased to ₹11,156.72 crore from ₹8,927.78 crore; finance costs rose to ₹4,864.32 crore from ₹3,511.92 crore.

• Impairment on financial instruments declined to ₹1,067.39 crore from ₹1,330.40 crore; employee expenses were ₹3,850.75 crore versus ₹4,057.57 crore.

Outlook and guidance

• FY25 outlook is cautiously optimistic, supported by diversified products, broad branch reach, digital infrastructure, continued economic growth and a focus on risk management.

• Priorities include sustainable growth and profitability, maintaining asset quality, diversifying funding sources and protecting interest margins amid market and rate volatility.