HDFC quarterly net increases 10%
22 Oct 2013 12:18 AM GMT
The company had posted a profit of Rs 1,151 crore for the July-September quarter in the previous fiscal, Housing Development Finance Corporation (HDFC) said.
Total income on a standalone basis increased to Rs 5,945.94 crore from Rs 5,269.45 crore in the corresponding period last fiscal.
During the first half of 2013-14, the company clocked a 13.3 per cent rise in net profit to Rs 2,439.43 crore from Rs 2,153.03 crore in the same period a year ago.
HDFC's total assets rose by 17 per cent to Rs 2,12,071 crore at the end of September 30, as against Rs 1,80,637 crore at the end of second quarter last fiscal.
The spread on loans over the cost of borrowings for the half year ended 30 September stood at 2.24 per cent. Net interest margin (NIM) declined to 4.1 per cent from 4.2 per cent at the end of 30 September, 2012.
Capital adequacy ratio increased to 19 per cent of risk weighted assets, against the minimum requirement of 12 per cent.
On a consolidated basis, HDFC reported a 26 per cent increase in profit after tax to Rs 3,598.27 crore for the first half of this fiscal, compared with Rs 2,850.76 crore in the same period of the previous fiscal.
HDFC said Keshub Mahindra, vice-chairman, and Shirish B Patel, independent director, have resigned with immediate effect. Both were directors of the company since its inception.
Total income on a standalone basis increased to Rs 5,945.94 crore from Rs 5,269.45 crore in the corresponding period last fiscal.
During the first half of 2013-14, the company clocked a 13.3 per cent rise in net profit to Rs 2,439.43 crore from Rs 2,153.03 crore in the same period a year ago.
HDFC's total assets rose by 17 per cent to Rs 2,12,071 crore at the end of September 30, as against Rs 1,80,637 crore at the end of second quarter last fiscal.
The spread on loans over the cost of borrowings for the half year ended 30 September stood at 2.24 per cent. Net interest margin (NIM) declined to 4.1 per cent from 4.2 per cent at the end of 30 September, 2012.
Capital adequacy ratio increased to 19 per cent of risk weighted assets, against the minimum requirement of 12 per cent.
On a consolidated basis, HDFC reported a 26 per cent increase in profit after tax to Rs 3,598.27 crore for the first half of this fiscal, compared with Rs 2,850.76 crore in the same period of the previous fiscal.
HDFC said Keshub Mahindra, vice-chairman, and Shirish B Patel, independent director, have resigned with immediate effect. Both were directors of the company since its inception.
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