HDB Financial Services posts net profit of Rs 304 cr in Q3

HDB Financial Services Limited (HDBFSL) recorded a net profit of Rs 304.1 crore in the third quarter ended December 2021 (Q3FY22). It had recorded a loss of Rs 146.2 crore in the same quarter last year (Q3FY21).

Sequentially, net profit increased by more than 50% from the Rs 191.7 crore reported in the second quarter ended September 30, 2021 (Q2FY22). HDBFSL is a subsidiary of HDFC Bank.

Its revenue in the reporting quarter increased by 15% to Rs 1,981.6 crore from Rs 1,723.7 crore in Q3FY21. Sequentially, they rose slightly from Rs 1,916.7 crore in Q2FY22.

Its credit growth, on an annual basis, remained stable, with its total loan portfolio standing at Rs 60,478 crore at the end of December 2021, compared to Rs 60,068 crore a year ago and Rs 60,008 crore rupees in September 2021.

The liquidity coverage ratio was healthy at 222% in December 2021.

Its gross non-performing assets stood at 6.05% at the end of December 2021 compared to 5.9% (proforma basis) a year ago and 6.1% in September 2021.

Its Capital Adequacy Ratio (CAR) was 20.3% and Level I was 14.9% in December 2021.

As of December 31, 2021, HDBFSL had 1,328 branches in 965 cities/municipalities.

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and up-to-date with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor

Comments are closed.