AgenciesNEW DELHI: Housing Development Finance Corporation (HDFC) on Monday posted better-than-expected financial results for the quarter ended September 30. It reported a profit of Rs 2,870.12 crore against a Rs 2,360 crore estimate that analysts had made in an ETNow poll.
The country’s largest mortgage lender had reported a profit of Rs 3,961.53 crore for the corresponding quarter last year. In a regulatory filing, HDFC also said, the profit numbers for the quarter ended September 30 are not directly comparable.
It added that bottomline numbers numbers are not comparable due to dividend income and profit on sale of investments of Rs 323 crore. The figure stood at Rs 2,701 crore last year.
Net interest income (NII) increased 21 per cent YoY to Rs 3,647 crore. On the other hand, net interest margin (NIM) for the quarter stood at 3.3 per cent and for the half-year at 3.2 per cent.
The overall collection efficiency for individual loans for September, the first month after the moratorium, was 96.3 per cent. The figure for non-moratorium customers stood at 99.5 per cent.
Overall, gross non-performing loans came at Rs 8,511 crore, which is equivalent to 1.81 per cent of the loan portfolio.
Shares of HDFC traded 6.46 per cent higher at Rs 2,046 after the announcement of corporate results, while the benchmark BSE Sensex was up 0.69 per cent at 39,888.
The country’s largest mortgage lender had reported a profit of Rs 3,961.53 crore for the corresponding quarter last year. In a regulatory filing, HDFC also said, the profit numbers for the quarter ended September 30 are not directly comparable.
It added that bottomline numbers numbers are not comparable due to dividend income and profit on sale of investments of Rs 323 crore. The figure stood at Rs 2,701 crore last year.
Net interest income (NII) increased 21 per cent YoY to Rs 3,647 crore. On the other hand, net interest margin (NIM) for the quarter stood at 3.3 per cent and for the half-year at 3.2 per cent.
The overall collection efficiency for individual loans for September, the first month after the moratorium, was 96.3 per cent. The figure for non-moratorium customers stood at 99.5 per cent.
Overall, gross non-performing loans came at Rs 8,511 crore, which is equivalent to 1.81 per cent of the loan portfolio.
Shares of HDFC traded 6.46 per cent higher at Rs 2,046 after the announcement of corporate results, while the benchmark BSE Sensex was up 0.69 per cent at 39,888.
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2 Comments on this Story
 | pramath banga47 minutes ago very nice. Real estate business is slowly improving. |
| utkarsh kumar1 hour ago good result |
