HDFC - Q2FY14 Result First-Cut - Microsec

Housing Development Finance Corporation (HDFC) Ltd announced its Q2FY14 result on 21st October 2013.

The company's consolidated total income increased by 17.65% QoQ and 15.01% YoY to INR9971 crores. Whereas, Profit After Tax (PAT) increased by 10.78% QoQ and 20.08% YoY to INR1891.17 crores.

During the quarter, the company's total assets increased by 17% YoY to INR2.72 lakh crores while loan book rose by 19% YoY to INR1.85 lakh crores.

On the asset quality front, Gross NPA stood at INR1473 crores, which is equivalent to 0.79% of the loan portfolio (0.77% in a year ago period) and based on a six-month overdue basis, it is 0.42% of the loan portfolio (0.48% in previous year).

Spread on loans over the cost of borrowings for six months stood at 2.24% and Net Interest Margin (NIM) for the same period was 4.1%. Moreover, Company believe margins will be stable above 4%.

Source : Equity Bulls

Keywords