HDFC's quarterly net profit increased fourfold to Rs 8372 crore

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(Commerce Rep) Mumbai, Monday

Housing Finance Giant Housing Development Finance Corporation (HDFC) Limited has announced encouraging one-time benefits from the third quarter ended December 1, 2015. The company's net profit increased four-fold to Rs 1.8 crore, compared to Rs 1.8 crore in the same period last year.

The company's profits have been recorded through merger with the big growth house finance bank, with a merger-to-value value of Rs 1.8 crore. This Associate Company of NBFC has been merged with Bandhan Bank on October 1. The company has recouped Rs 1.5 crore fair value gain on de-recognition of investment in home finance. HDFC has converted shareholding into bond bank shares in its home finance.

The issue has been approved by the Company's Board on a private placement basis of non-convertible debentures (NCDs) of up to Rs. HDFC Ltd has made a provision of Rs 1 crore in the quarter. That was Rs 1 crore in the corresponding period of the previous year and Rs 1 crore in the quarter ended September 1, 2009. The company has been consistently limited in Providence. The company is issuing loans of Rs 1 crore per month on an individual basis in the low-income category. In the third quarter, personal loans were made up of 5% of total loans.

The company's total revenue has increased by 5% to Rs. 9.5 crore compared to Rs. Net interest income (NAI) increased by 8.5 percent to Rs 8.5 crore, compared to Rs 1.8 crore. The net interest margin is 8.5%. At the end of December 1, the loan book of the company has increased from Rs 1.8 lakh crore to 1.8 lakh crore.

The company's sinking loan stood at 8% of the total loan portfolio. The total NPA stands at Rs 1 crore. The loan remained at 8% of the portfolio. That was 8.2 percent in the second quarter. Total non-performing assets increased from 8.5 percent to 8.5 percent. The total NPA ratio in non-personal portfolios has increased from 8.5 percent to 8.2 percent.

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