HDFC Q4 Profit Up By 39% at Rs 2,846 Crore

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    Mortgage lender HDFC reported a 39.2 percent YoY (year-on-year) increase in standalone net profit for the fourth quarter ended March 2018 at Rs 2,846.22 crore from Rs 2,044.22 crore.

    HDFC Q4 Profit Up By 39% at Rs 2,846 Crore

    In a stock exchange filing today, it stated its total income to be up by 13 percent at Rs 9,633.89 crore for the March-ending quarter from Rs 8,514.51 crore in the period last year. The lender's YoY net interest income (NII) was up by 12.4 percent to Rs 3,617 crore for the fourth quarter from Rs 3,216 crore last year.

    Its gross non-performing loan ratio was at 1.11 percent of the total advances down from 1.15 percent in the previous quarter

    Its provisions stood at Rs 180 crore for the quarter under review up from Rs 150 crore a year ago. Rs 80 crore from it is a one-time contingency account provision.

    During the quarter it had a pre-tax gain of Rs 265.46 crore from selling its 100 share capital in wholly owned subsidiaries HDFC Developers Ltd. and HDFC Realty Ltd. to Quikr India Pvt. Ltd.

    In the exchange filing, HDFC said that it's board has approved raising up to Rs 85,000 crore through non-convertible debentures on private placement basis.

    Read more about: hdfc
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