HDB Financial Services posts net profit of Rs 304 cr in Q3
HDB Financial Services Limited (HDBFSL) posted a net profit of Rs 304.1 crore in the third quarter ended December 2021 (Q3FY22). It had posted loss of Rs 146.2 crore in same quarter last year (Q3FY21).
Sequentially, net profit rose over 50% when compared to Rs 191.7 crore reported in the second quarter ended September 30, 2021 (Q2FY22). HDBFSL is a subsidiary of HDFC Bank.
Its revenues in the reporting quarter rose 15 per cent to Rs 1,981.6 crore from Rs 1,723.7 crore in Q3FY21. Sequentially, they grew marginally from Rs 1,916.7 crore in Q2FY22.
Its credit growth, on an annual basis, was flat as its total loan book stood at Rs 60,478 crore at end of December 2021 as against Rs 60,068 crore a year ago and Rs 60,008 crore in September 2021.
The liquidity coverage ratio was healthy at 222 per cent in December 2021.
Its gross non-performing assets stood at 6.05 per cent at end of December 2021 as against 5.9 per cent (proforma basis) a year ago and 6.1 per cent in September 2021.
Its Capital Adequacy Ratio (CAR) was at 20.3 per cent with Tier-I at 14.9 per cent in December 2021.
As on December 31, 2021, HDBFSL had 1,328 branches across 965 cities / towns.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
