HDFC Releases Q2 Results, Shows 18% Growth
The total revenue from operations rose to Rs 15,027.20 crore during the quarter under review, up by 23 per cent
HDFC has posted a nearly 18 per cent growth in its net profit, which is now at Rs 4,454 crore for the quarter that ended in September 2022. The total revenue from operations rose to Rs 15,027.20 crore during the quarter under review, up by 23 per cent, rising by 17.8 per cent from Rs3,780.50 crore in September 2021.
The lender’s net interest income for the quarter jumped 13 percent Y-o-Y to Rs 4,639 crore. The net interest margin for the half-year that ended September 30 was 3.4 per cent. As on September 30, its assets under management (AUM) stood at Rs 6.9 lakh crore, against Rs 5.9 lakh crore in the previous year. Overall, HDFC beats expectations in the second quarter of FY23.
Individual loans constituted 81 per cent of the AUM. On an AUM basis, the growth in the individual loan book was 20 per cent, and the growth in the total loan book was 16 percent. During the three months that ended September 30, 2022, HDFC assigned loans amounting to Rs 9,145 crore to HDFC Bank. This is higher than Rs 7,132 crore of loans assigned in the same period last year. Gross NPLs as on September 30 2022 stood at Rs 9,355 crore. This is equivalent to 1.59 per cent of the total portfolio, the lender said in a statement. HDFC’s total provision at the end of the last quarter stood at Rs 13,146 crore.
