HDFC Q2 profit up 15% on healthy growth in lend­ing

The Hindu Business Line - - FRONT PAGE -

HDFC re­ported a 15 per cent in­crease in sec­ond-quar­ter profit at ₹2,101 crore against ₹1,827 crore in the year-ago quar­ter. This comes on the back of healthy growth in loans, and sta­ble spreads.

The net in­ter­est mar­gin (the dif­fer­ence be­tween in­ter­est earned and ex­pended) in the re­port­ing quar­ter was up 14 per cent year-on-year at ₹2,612 crore.

“In­di­vid­ual loan dis­burse­ments grew 23 per cent, which on a base as large as ours, is a very sub­stan­tial in­crease. To­tal loan book growth was 18 per cent,” said Vice-Chair­man and Chief Ex­ec­u­tive Keki Mistry.

The loan book, on As­sets Un­der Man­age­ment ba­sis, as of Septem­ber-end 2017 stood at ₹3.68 lakh crore, an in­crease of 18 per cent over the pre­vi­ous year. Dur­ing the quar­ter, HDFC sold loans ag­gre­gat­ing ₹3,530 crore (of which ₹3,165 crore were to HDFC Bank and ₹365 crore to other banks).

NPAs stood at 1.14 per cent (com­pared to 1.12 per cent in the June quar­ter). On Septem­ber 30, HDFC car­ried a to­tal bal­ance-sheet pro­vi­sion of ₹3,235 crore against the reg­u­la­tory re­quire­ment of ₹2,500 crore.

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