HDFC’s net profit growth of 13% came on the back of a healthy loan growth and steady margins.
Housing Development Finance Corporation Ltd (HDFC) on February 2 reported a healthy 13 percent increase in its net profit for the December quarter on the back of strong loan disbursals and stable yield spreads.
The country’s largest housing finance company reported a net profit of Rs 3,690.80 crore for the December quarter, up from Rs 3,260.69 crore in the same quarter of the previous year.
The lender’s net interest income rose by 13 percent to Rs 4,840 crore for the December quarter from Rs 4,284 crore in the corresponding quarter of FY22.
Its total interest income rose to Rs 14,457 crore from Rs 11,055 crore in the year-ago period. Total revenue from operations was Rs 15,230.12 crore, up from Rs 11,783.60 crore in the year-ago period.