HDFC Q2 revenue rises 18% to Rs 4,454 crore; NII up 13%

Mortgage lender HDFC on Thursday reported an 18 per cent year-on-year (YoY) rise in internet revenue at Rs 4,454 crore for the September quarter in contrast with Rs 3,781 crore within the corresponding quarter final 12 months.

Web curiosity earnings (NII) for the quarter rose 13 per cent YoY to Rs 4,639 crore in contrast with Rs crore within the year-ago quarter, the HFC mentioned in a BSE submitting.

The gross particular person non-performing loans (NPLs) stood at 0.91 per cent of the person portfolio whereas the gross non-performing non-individual loans stood at 3.99 per cent of the non-individual portfolio, HDFC mentioned in a BSE submitting.

The gross NPLs as on September 30 stood at Rs 9,355 crore. This was equal to 1.59 per cent of the portfolio.

“Primarily based on the sooner NPL norms and to offer a like-for-like comparability with the earlier 12 months, the gross particular person NPLs as at September 30, 2022 was 0.73 per cent of the person portfolio and complete NPLs was 1.44 per cent of the mortgage portfolio. This displays vital enchancment within the general asset high quality,” HDFC mentioned.

As on September 30, the property below administration stood at Rs 6,90,284 crore towards Rs 5,97,339 crore within the year-ago quarter. Particular person loans comprise 81 per cent of the AUM, the lender mentioned.

For the September quarter, HDFC assigned loans amounting to Rs 9,145 crore to HDFC Financial institution. Loans offered within the previous 12 months amounted to Rs 34,513.