HDFC Q3 net profit rises 13%; shares trade lower
1 min read . Updated: 02 Feb 2023, 02:08 PM IST
Premium- Shares of HDFC were trading over 2% lower at ₹2,605 apiece on the BSE in afternoon deals
Housing Development Finance Corporation Ltd (HDFC) on Thursday reported a 13% rise in its net profit for the third quarter ended December 2022 of the current fiscal (Q3 FY23) at ₹3,691 crore as compared to ₹3,260 crore in the year-ago quarter. Meanwhile, its revenue from operations rose 29% year-on-year (YoY) to ₹15,230 crore as against ₹11,783 crore.
The Net interest income (NII) for the quarter ended December 31, 2022 stood at ₹4,840 crore compared to ₹4,284 crore in the previous year, registering a growth of 13%.
As at December 31, 2022, the gross individual NPLs stood at 0.86% (PY: 1.44%) of the individual portfolio, while the gross non-performing non-individual loans stood at 3.89% (PY: 5.04%) of the non-individual portfolio, the lender said.
Shares of HDFC were trading over 2% lower at ₹2,605 apiece on the BSE in afternoon deals. The mortgage lender's stock has risen more than 4% in a year's period.
As at December 31, 2022, the assets under management (AUM) stood at ₹7,01,485 crore as against ₹6,18,917 crore in the previous year and individual loans comprise 82% of the AUM. On an AUM basis, the growth in the individual loan book was 18% and growth in the total loan book on an AUM basis was 13%.
Further, the corporation’s capital adequacy ratio stood at 23.7%, of which Tier I capital was 23.2% and Tier II capital was 0.5%. As per regulatory norms, the minimum requirement for the capital adequacy ratio and Tier I capital is 15% and 10% respectively.
“All investments in the Corporation’s subsidiary and associate companies are carried at cost and not at fair value. Accordingly, as at December 31, 2022, the unaccounted gains on listed investments in subsidiary and associate companies amounted to ₹2,55,883 crore," the company added.
