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Q3FY20 review: HDFC Bank shows no signs of slowdown

January 22, 2020 / 11:15 AM IST
Q3FY20 review: HDFC Bank shows no signs of slowdown

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PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

HDFC Bank posted yet another quarter of strong performance. Net profit increased 33 percent year-on-year in the third quarter of FY20 backed by robust growth in the loan book and steady operating performance. The largest and most profitable private sector bank has been consistently delivering 20 percent profit growth for many quarters. In Q3, lower taxes boosted earnings growth to more than 30 percent. With the slowing of economic growth, the pace of credit expansion in the economy has decelerated sharply...

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