HDFC Q1 PAT up by 54% at INR 2190

The Board of Directors of Housing Development Finance Corporation Limited (HDFC) announced its unaudited financial results for the quarter ended June 30, 2018, following its meeting on Monday, July 30, 2018 in Mumbai.

PERFORMANCE HIGHLIGHTS

  • 18% growth in the overall loan book on an Assets Under Management (AUM) basis for the quarter ended June 30, 2018
  • 25% growth in individual loans (after adding back loans sold in the preceding 12 months)
  • 37% of home loans approved in terms of numbers during the quarter are towards the Economically Weaker Section & Low Income Group
  • 20% growth in Net Interest Income
  • Spreads at 2.28%, Net Interest Margin at 3.5%
  • Under Ind AS, Profit After Tax (Before Other Comprehensive Income) stood at Rs 2,190 crore (Previous Year: Rs 1,424 crore)

 

The profit before tax, dividend and sale of investments for the quarter ended June 30, 2018 stood at Rs 2,484 crore compared to Rs 1,960 crore in the corresponding quarter of the previous year, representing a growth of 27%.

For the quarter ended June 30, 2018, the Corporation received dividend of Rs 511 crore from HDFC Bank Limited, while in the previous year, dividend from HDFC Bank was received in the second quarter.

The profit before tax for the quarter ended June 30, 2018 stood at Rs 3,070 crore compared to Rs 2,022 crore in the corresponding quarter of the previous year.

The reported profit after tax before other comprehensive income as per Ind AS for the quarter ended June 30, 2018 stood at Rs 2,190 crore compared to Rs 1,424 crore in the corresponding quarter of the previous year, representing an increase of 54%.

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