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HDB Financial Services Ltd posts net profit of Rs. 213 crore in Q2

Posted On: 2019-10-19 22:32:31

HDB Financial Services Limited (HDBFSL) is a non-deposit taking non-bank finance company ('NBFC') offering wide range of loans and asset finance products to individuals, emerging businesses and micro enterprises. As on September 30, 2019, the Bank held 95.5% stake in HDBFSL.

As on September 30, 2019, HDBFSL's b~lance sheet size was at Rs. 58,454 crore. The total loan book grew by 16.1% to Rs. 55,759 crore as on September 30, 2019 as against Rs. 48,014 crore as of September 30, 2018.

For the quarter ended September 30, 2019, HDBFSL's net interest income grew by 24.8% to Rs. 971.1 crore as against Rs. 777.8 crore in the previous quarter. Profit after tax for the quarter ended September 30, 2019 was Rs. 213.0 crore compared to Rs. 246.3 crore in the previous quarter.

For the half year ended September 30, 2019, HDBFSL's net interest income grew by 22.5% to Rs. 1,911.2 crore as against Rs. 1,560.2 crore in the previous half year. Profit after tax for the half year ended September 30, 2019 was Rs. 478.5 crore compared to Rs. 505.3 crore in the previous half year.

Gross non-performing loans were at 3.4% of gross loans. HDBFSL adopted certain best practices on NPA recognition. Adjusting for the same, gross non-performing loans would have been 2.6% as at September 30, 2019, as against 2.3% as at June 30, 2019, and 2.1% as at September 30, 2018.

Net non-performing loans were at 2.5% of net loans as on September 30, 2019. Total CAR was at 18.2% with Tier-1 CAR at 13.3%.

As on September 30, 2019, HDBFSL had 1,436 branches across 1,043 cities / towns.

Shares of HDFC Bank Ltd was last trading in BSE at Rs.1229.2 as compared to the previous close of Rs. 1220.8. The total number of shares traded during the day was 224932 in over 7158 trades.

The stock hit an intraday high of Rs. 1233.85 and intraday low of 1220.75. The net turnover during the day was Rs. 276092451.

Source: Equity Bulls

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