HDFC Q3 net profit jumps 27.5% to Rs 1,706-cr on sound loan growth
Housing finance major HDFC today reported a 27.55 per cent rise in consolidated net profit at Rs 1,705.83 crore in the third quarter (Q3) ended December, 2012 on sound growth in individual loan book.
Total income of the company soared 58.75 per cent to Rs 10,128.58 crore in the December quarter compared to Rs 6,379.96 crore reported a year-ago.
"We continue to post sound results on the back of robust loan growth, especially in the individual loan segment," HDFC Vice-Chairman and CEO Keki M Mistry told reporters here this afternoon.
The total loan book stood at Rs 1,60,941 crore by the end of the December quarter, up 21.73 per cent compared to Rs 1,32,208 crore reported in the same period last fiscal.
However, the market reacted negatively to the numbers and the HDFC counter closed nearly 1 per cent down at Rs 814.50, after hitting a high of Rs 828.05 on the BSE, whose main gauge Sensex rose by 0.30 per cent to 20,102 points.
"The individual loan book witnessed robust growth of around 31 per cent, which includes addition of loans sold during this period," Mistry said, adding that around 85 per cent of the total growth in loan book came from individual loan segments with the rest coming from the non-individual segment.
The non-individual segment is likely to do good in the fourth quarter of the fiscal, he added.
On the net interest margin front, the housing finance company recorded a 4.1 per cent NIM in the third
Be the first to comment.
