HDFC sees 39% jump in Q4 profit

By: |
Mumbai | May 01, 2018 2:33 AM

Mortgage lender Housing Development Finance Corporation (HDFC) on Thursday reported a 39.2% year-on-year (y-o-y) rise in its standalone net profit for the March ended quarter to Rs 2,846.2 crore.

HDFC, Housing Development Finance Corporation, market, bank, HDFC bank, HFC profitIts shares on the BSE closed at Rs 1,884.65 on Monday, up 1.44% from its previous close.

Mortgage lender Housing Development Finance Corporation (HDFC) on Thursday reported a 39.2% year-on-year (y-o-y) rise in its standalone net profit for the March ended quarter to Rs 2,846.2 crore. HDFC’s net interest income (NII) for the quarter came in at Rs 3,210.9 crore against Rs 2,852.37 crore in the same quarter last year, representing a growth of 12.6%. The lender’s total income for the March quarter stood at Rs 9,633.89 crore, 13.1% higher than the same quarter last year. Its net interest margin (NIM) for the year stood at 4% which was a tad lower than the previous year.

The spread on loans over the cost of borrowings for the year ended March 31, 2018 stood at 2.29%. While the spread on the individual loan book was 1.92%, it was 3.1% on the non-individual book. Within the assets under management (AUM), the growth in the individual loan book was 18% y-o-y and the non-individual book was 17% y-o-y. The growth in total loan book was 18% y-o-y. As on March 31, the loan book stood at Rs 3.59 lakh crore and outstanding individual loans sold or assigned was Rs 39,364 crore.

In FY18, under the loan assignment route, it sold individual loans amounting to Rs 6,453 crore. Its gross non-performing loans stood at Rs 4,019 crore or 1.11% of the loan portfolio. While the bad loans of the individual portfolio stood at 0.64%, that of the non-individual portfolio stood at 2.18%. The provisions as on March 31 stood at Rs 2,756 crore of which Rs 1,158 crore was on account of non-performing loans.

HDFC’s capital adequacy ratio stood at 19.2%, of which Tier I capital was 17.3% and Tier II capital was 1.9%. Its shares on the BSE closed at Rs 1,884.65 on Monday, up 1.44% from its previous close.

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