HDFC Q3 net profit jumps 27.5% to Rs 1,706-cr on sound loan growth
"We hope that the spreads will remain stable in the near future," Mistry said.
HDFC also witnessed an improvement in the asset quality with gross non-performing asset (NPA) standing at 0.75 per cent in this period compared to 0.82 per cent reported in the same period last fiscal.
Its capital adequacy ratio stood at 17.5 per cent as of December with a Tier-I capital standing at 14.9 per cent. As per the company, its subsidiaries in life insurance, general insurance and mutual fund among others contributed around 33 per cent of the net profit during the reporting quarter.
Replying to a question on the plans to list its life insurance business, he said the company will take a call after the new Insurance Bill is passed by Parliament.
On his expectations from the RBI on January 29, Mistry said the RBI is likely to cut the repo rate by 25 basis points (0.25 per cent), which may be followed up in the next policy review in March.
He also said he does not expect a CRR (cash reserve ratio) cut on January 29.
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HDFC Q3 net profit up 16%, misses forecast
(Reuters): Housing Development Finance Corp (HDFC), India's biggest mortgage lender, reported a 16 percent rise in net profit for the Oct-Dec quarter on Monday, missing market estimates.
Standalone net profit for the fiscal third quarter was 11.4 billion rupees ($211.84 million) compared
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