Home / Business / Money / HDFC Q3 net rises 11.5% YoY at Rs 1425cr; in line

HDFC Q3 net rises 11.5% YoY at Rs 1425cr; in line

HDFC, India’s largest housing finance company, said its third-quarter net profit stood at Rs 1,425.5 crore, rising 11.56 percent from Rs 1,277.7 crore in the same quarter last year. A CNBC-TV18 poll of analysts had forecast this Rs 1,426 crore.

HDFC , India’s largest housing finance company, said its third-quarter net profit stood at Rs 1,425.5 crore, rising 11.56 percent from Rs 1,277.7 crore in the same quarter last year. A CNBC-TV18 poll of analysts had forecast this Rs 1,426 crore.

Income from operations rose 12.9 percent to Rs 6,758.4 crore. Its loan book, as of December 31, 2014, stood at Rs 2.19 lakh crore, compared to Rs 1.92 lakh crore on December 31, 2013.

The firm’s third-quarter net interest income stood at Rs 2,017 crore versus a CNBC-TV18 poll of Rs 2,010 crore. For the nine month period from April to December, its standalone net interest margin was 3.93 percent.

For the nine-month period, April-December spread on loans stood at 2.31 percent while gross non-performing assets were 0.69 percent.

Provisions during the third quarter stood at Rs 45 crore, compared to Rs 35 crore quarter-on-quarter. At a press conference, HDFC vice chairman and CEO Keki Mistry said the financier’s cash and cash equivalents stood at Rs 1,833 crore while excess provisioning were Rs 387 crore.

Leave a Reply

x

Check Also

Rupee recovers 6 paise to 67.01

The rupee today recovered some lost ground by rising 6 paise to ...

Notes ban to have positive impact on economy

NEW DELHI: The government’s demonetisation move has led to widespread adoption of ...