HDB Financial Services Ltd Q3 FY2023 net profit rises to Rs. 501.2 crore

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, 2022, the Bank held 94.9% stake in HDBFSL.

For the quarter ended December 31, 2022, HDBFSL's net revenue was at Rs. 2,233.4 crore as against Rs. 1,981.6 crore for the quarter ended December 31, 2021, a growth of 12.7%. Profit after tax for the quarter ended December 31, 2022 was Rs. 501.2 crore compared to Rs. 304.0 crore for the quarter ended December 31, 2021.

The total loan book was Rs. 65,103 crore as on December 31, 2022. Stage 3 loans were at 3.73% of gross loans. As on December 31, 2022, total CAR was at 20.5% with Tier-I CAR at 16.0%.

As on December 31, 2022, HDBFSL had 1,421 branches across 1,020 cities / towns.

Shares of HDFC Bank Limited was last trading in BSE at Rs. 1600.85 as compared to the previous close of Rs. 1599.70. The total number of shares traded during the day was 92544 in over 6868 trades.

The stock hit an intraday high of Rs. 1609.95 and intraday low of 1586.10. The net turnover during the day was Rs. 147945198.00.

Source : Equity Bulls

Keywords

HDFCBank INE040A01034 HDB HDBFinancialServices Q3FY23 ResultUpdate