HDFC Bank Q4 FY26 Results: 9% profit rise, Rs 13 dividend

Earnings snapshot and why it matters

HDFC Bank reported its March-quarter (Q4 FY26) results on April 18, showing higher profits and a steady topline in a quarter where asset quality also improved. The lender posted a 9.1% year-on-year (YoY) rise in standalone net profit, supported by growth in core earnings and lower provisioning. Alongside the results, the board recommended a final dividend, setting a record date that investors will track closely. The disclosures were made through stock exchange filings and media reports based on the bank’s numbers.

Net profit rises 9.1% YoY in Q4 FY26

For the quarter ended March 31, 2026, HDFC Bank’s standalone net profit rose to Rs 19,221.05 crore, compared with Rs 17,616.14 crore in the corresponding quarter last year. The reported growth was about 9.1% YoY. Profit before tax (PBT) for the quarter was reported at Rs 25,193.35 crore, up 7.92% YoY.

The profit performance was also described in other reports as a roughly 9% rise, with the same quarter profit rounded to Rs 19,221 crore and the base quarter profit to Rs 17,616 crore. While the absolute numbers are consistent across sources, this story keeps the more precise figures where available.

Income and revenue lines: small change at the topline

HDFC Bank’s total income for the January to March 2026 quarter was Rs 89,808.90 crore, marginally higher than Rs 89,487.99 crore in the same quarter last year. Separately, the bank reported interest income of Rs 76,610 crore, down 1.1% from Rs 77,460 crore in the year-ago period.

On the revenue side, the bank said net revenue grew 5% to Rs 46,280 crore for Q4 FY26 from Rs 44,090 crore in Q4 FY25. These disclosures point to stability in headline income, with growth led more by core earnings and operating performance than a sharp rise in overall income.

Net interest income and margins

Net interest income (NII) for the quarter ended March 31, 2026 rose 3.2% YoY to Rs 33,080 crore, from Rs 32,070 crore in the year-ago period. Another report pegged NII at Rs 33,082 crore compared with Rs 32,006 crore in the same quarter last year.

HDFC Bank also disclosed its net interest margin (NIM) at 3.38% on total assets and 3.53% based on interest-earning assets. With NII rising while total income moved only slightly, the quarterly disclosures underscore that margin and balance-sheet dynamics remained key drivers for earnings.

Operating profit and provisioning trends

Operating profit before provisions and contingencies rose to Rs 27,802.92 crore for the quarter ended March 31, 2026, compared with Rs 26,636.70 crore a year earlier. Another report stated operating profit at Rs 27,802 crore versus Rs 26,537 crore, a 4.8% YoY rise.

Provisions and contingencies for the quarter were Rs 2,609.57 crore (also reported as Rs 2,610 crore in one place). One report also described provisions declining 18% to Rs 2,609 crore from Rs 3,193 crore in the year-ago period. The bank said the total credit cost ratio stood at 0.35% for the March 2026 quarter.

Asset quality improves: GNPA falls to 1.15%

HDFC Bank reported an improvement in asset quality during Q4 FY26. The gross non-performing assets (GNPA) ratio moderated to 1.15% of gross advances as of March 31, 2026, improving from 1.33% at the end of March 2025. The bank also reported GNPA at 1.24% as of December 31, 2025, and provided additional context that the ratio was 0.97% excluding NPAs in the agricultural segment at that date.

On net NPAs, the bank reported net non-performing assets (NNPA) at 0.38% of net advances as of March 31, 2026. Another report described NNPA easing to 0.38% from 0.42% in the previous quarter.

The bank also disclosed absolute GNPA numbers: gross NPAs were Rs 34,061.2 crore in Q4 FY26, down from Rs 35,179 crore in the previous quarter.

Dividend: final Rs 13 per share, record date June 19

HDFC Bank’s board recommended a final dividend of Rs 13 per equity share (face value Re 1) for the year ended March 31, 2026. The record date to determine eligible shareholders has been set as Friday, June 19, 2026.

The bank also stated that this final dividend is subject to shareholder approval at the forthcoming annual general meeting. It noted that it had already paid a special interim dividend of Rs 2.50 per equity share on August 11, 2025 (adjusted for bonus). With the final dividend, the total dividend for FY26 would be Rs 15.50 per equity share.

Deposits update: average deposit base expands

The bank reported that its average deposits were Rs 2,850,000 crore (Rs 28.5 lakh crore) for the March 2026 quarter, a 12.8% increase over Rs 2,520,000 crore (Rs 25.2 lakh crore) for the March 2025 quarter, and a 3.6% rise over Rs 2,750,000 crore (Rs 27.5 lakh crore) for the December 2025 quarter.

It also disclosed that average CASA deposits were Rs 918,000 crore (Rs 9.18 lakh crore) for the March 2026 quarter, a 10.8% increase over Rs 828,000 crore (Rs 8.28 lakh crore) for the March 2025 quarter, and a 2.2% rise over Rs 898,000 crore (Rs 8.98 lakh crore) for the December 2025 quarter.

Key numbers at a glance

Stock and governance context noted alongside results

Ahead of the results, HDFC Bank shares on the BSE closed 0.6% higher at Rs 800 on April 17. Separately, one report linked the quarterly results backdrop to the resignation of the bank’s part-time chairman and independent director Atanu Chakraborty, citing differences on “values and ethics” with the management.

Analysis: what stands out in Q4 FY26

The quarter’s disclosures highlight three clear themes: profit growth, lower stress indicators, and shareholder payout visibility. The rise in net profit alongside a reduction in provisions and an improvement in the GNPA ratio suggests that credit costs and asset quality trends remain central to earnings delivery. The deposit update, provided in average terms, points to an expanding funding base, with CASA also growing.

On payouts, the final dividend recommendation and a clearly stated record date give investors a defined timeline, while the bank’s note that the dividend is subject to shareholder approval sets the procedural next step. Taken together, the quarter reflects incremental improvement rather than a sharp shift, with operating metrics and asset quality doing much of the work.

Conclusion

HDFC Bank’s Q4 FY26 results showed a 9.1% YoY rise in standalone net profit to Rs 19,221.05 crore, marginal movement in total income, and an improvement in GNPA to 1.15%. The bank also recommended a final dividend of Rs 13 per share, taking FY26’s total dividend to Rs 15.50 per share, with June 19, 2026 set as the record date. The next formal milestone for shareholders is the dividend’s approval at the bank’s forthcoming annual general meeting.