HDB Financial Services Ltd Q4FY23 net profit at Rs. 545.5 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 customer segments such as individuals, emerging businesses and micro enterprises which are typically different from the segments that the Bank caters to. As on March 31, 2023, the Bank held 94.8% stake in HDBFSL.

For the quarter ended March 31, 2023, HDBFSL's net revenue was at Rs. 2,262.5 crore as against Rs. 2,141.4 crore for the quarter ended March 31, 2022, a growth of 5.7%. Profit after tax for the quarter ended March 31, 2023 was Rs. 545.5 crore compared to Rs. 427.1 crore for the quarter ended March 31, 2022, a growth of 27.7%.

For the year ended March 31, 2023, HDBFSL's net revenue grew by 11.4% to Rs. 8,891.0 crore (as against Rs. 7,980.8 crore in the previous year). Profit after tax for the year ended March 31, 2023 was Rs. 1,959.4 crore compared to Rs. 1,011.4 crore in the previous year, a growth of 93.7%.

The total loan book was Rs. 70,031 crore as on March 31, 2023. Stage 3 loans were at 2.73% of gross loans. As on March 31, 2023, total CAR was at 20.1 % with Tier-I CAR at 15.9%.

As on March 31, 2023, HDBFSL had 1,492 branches across 1,054 cities / towns.

Shares of HDFC Bank Limited was last trading in BSE at Rs. 1693.30 as compared to the previous close of Rs. 1684.75. The total number of shares traded during the day was 165353 in over 6128 trades.

The stock hit an intraday high of Rs. 1697.00 and intraday low of 1677.70. The net turnover during the day was Rs. 279007694.00.

Source : Equity Bulls

Keywords

HDFCBank INE040A01034 HDBFinancialServices Q4FY23 FY2023