HDFC Q2 Results: Net Profit Skyrocketed Up 18% To Rs. 4,454 Crore, Higher Than The Estimate
November 4, 2022: Total income from operations increased by 23 percent during the quarter under review to Rs. 15,027.20 crores.
In the September quarter, its net interest income (NII) rose 13 percent Y-o-Y to Rs. 4,639 crores. The reported net interest margin (NIM) for the half-year ended September 30 was 3.4 percent, HDFC said in a release.
Mortgage lender HDFC reported nearly 18 per cent growth in its net profit for the quarter ended September 2022 compared to the three months a year ago at Rs. 4,454 crores.
According to a poll by ET Now, its net profit was Rs. 4,177 crore was expected. Total income from operations increased by 23 percent during the quarter under review to Rs. 15,027.20 crores.
In the September quarter, its net interest income (NII) rose 13 percent Y-o-Y to Rs. 4,639 crores. The reported net interest margin (NIM) for the half-year ended September 30 was 3.4 percent, HDFC said in a release.
Its assets under management (AUM) as on September 30 stood at Rs. 6.9 lakh crore, which was Rs. 5.9 lakh crore was.
Personal loans account for 81 percent of AUM. On an AUM basis, individual loan book growth was 20 percent and total loan book growth was 16 percent.
During the three months ended September 30, 2022, HDFC paid HDFC Bank Rs. 9,145 crore loan was handed over. 7,132 crore in loans given in the same period last year.
As on September 30, the outstanding amount in respect of personal loans sold was Rs. 93,566 crore and HDFC continues to service these loans.
The collection efficiency for personal loans was over 99 percent on a cumulative basis during the quarter under review.
HDFC’s gross personal non-performing loan (NPL) was 0.91 per cent of the personal portfolio, while the gross NPL of non-personal loans was 3.99 per cent of the non-personal portfolio as of the end of September this year.
Gross NPL as on September 30 stood at Rs. 9,355 crores. This is equivalent to 1.59 percent of the portfolio, the lender said.
HDFC’s total provisioning at the end of last quarter stood at Rs. 13,146 crores. Provisions carried as percentage of exposure at default (EAD) are equivalent to 2.21 percent.
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