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HDB Financial Services Ltd reports PAT of Rs. 343.1 crore in Q3 FY2019-20

Posted On: 2020-01-18 19:01:48

HDB Financial Services Limited (HDBFSL) is a non-deposit taking non-banking finance company ('NBFC') offering wide range of loans and asset finance products to individuals, emerging businesses and micro enterprises. As on December 31, 2019, HDFC Bank held 95.3% stake in HDBFSL.

As on December 31, 2019, HDBFSL's balance sheet size was at Rs. 61,055 crore. The assets under management grew by 15.2% to Rs. 59,178 crore as on December 31, 2019 as against Rs. 51,352 crore as of December 31, 2018.

For the quarter ended December 31, 2019, HDBFSL's net interest income grew by 29.2 % to Rs. 1,049.8 crore as against Rs. 812.6 crore in the previous quarter ended December 31, 2018. Profit after tax for the quarter ended December 31, 2019 was grew by 16.5% to Rs. 343.1 crore as compared to Rs. 294.4 crore in the previous quarter ended December 31, 2018.

For the Nine month ended December 31, 2019, HDBFSL's net interest income grew by 22.2% to Rs. 3,034.2 crore as against Rs. 2,483.3 crore in the previous nine months ended December 31, 2018. Profit after tax for the Nine month ended December 31, 2019 was Rs. 770.6 crore compared to Rs. 820.0 crore in the previous nine month ended December 31, 2018.

Stage 3 loans were at 3.0% of gross loans. Total CAR was at 18.7% with Tier-I CAR at 13.5%.

As on December 31, 2019, HDBFSL had 1,453 branches across 1,058 cities / towns.

Shares of HDFC Bank Ltd was last trading in BSE at Rs.1277.85 as compared to the previous close of Rs. 1287.6. The total number of shares traded during the day was 185105 in over 5222 trades.

The stock hit an intraday high of Rs. 1285 and intraday low of 1271.95. The net turnover during the day was Rs. 236387830.


Source: Equity Bulls

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