Mortgage lender HDFC has posted a nearly 18 percent growth in its net profit at Rs 4,454 crore for the quarter ended September 2022 over the corresponding three months a year ago.
As per ET Now poll, its net profit was expected at Rs 4,177 crore.
Total revenue from operations rose 23 percent to Rs 15,027.20 crore during the quarter under review.
Its net interest income (NII) for the September quarter jumped 13 percent Y-o-Y to Rs 4,639 crore. The reported net interest margin (NIM) for the half-year ended September 30 was 3.4 percent, HDFC said in a release.
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.
Individual loans constituted 81 percent of the AUM. On an AUM basis, the growth in the individual loan book was 20 percent, and growth in the total loan book was 16 percent.
During the three months 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.
As on September 30, the outstanding amount with respect to individual loans sold was Rs 93,566 crore, and HDFC continues to service these loans.
The collection efficiency for individual loans on a cumulative basis stood at over 99 percent during the quarter under review.
HDFC’s gross individual non-performing loans (NPLs) stood at 0.91 percent of the individual portfolio, while the gross NPLs of non-individual loans stood at 3.99 percent of the non-individual portfolio as of September end this year.
Gross NPLs as on September 30, stood at Rs 9,355 crore. This is equivalent to 1.59 percent of the portfolio, the lender said.
HDFC’s total provision at the end of the last quarter stood at Rs 13,146 crore. The provisions carried as a percentage of the exposure at default (EAD) is equivalent to 2.21 percent.
