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NIM for the quarter was regular at 4.1 per cent and the credit score value ratio fell to 1.3 per cent. Loans to the industrial and rural section jumped 27 per cent whereas different revenue climbed 21.5 per cent. Total, advances outpaced deposits. Two subsidiaries reported stable outcomes for the quarter.
Listed below are the important thing takeaways from HDFC Financial institution’s Q2 outcomes.
In-line revenue, NII development
HDFC Financial institution’s Q2 revenue at Rs 8,834.30 crore was largely consistent with ET NOW ballot estimate of Rs 8,810 crore. The 17.6 per cent development for the quarter was, nevertheless, higher than 16.08 per cent YoY development within the June quarter however lower than 18.41 per cent YoY development clocked in the identical quarter final yr, as per information obtainable with company database AceEquity.
Different revenue lifts numbers
Development in different revenue or non-interest revenues stood at 21.5 per cent — Rs 7,400.80 crore in contrast with Rs 6,092.50 crore YoY. Revenues from charges and fee jumped 25.52 per cent to Rs 4,945.90 crore from Rs 3,940.30 crore; foreign exchange trade and derivatives revenues climbed 54.76 per cent to Rs 867.30 crore from Rs 560.40 YoY; achieve on sale/revaluation of investments fell to Rs 675.50 crore from 1,016.20 crore YoY. The financial institution earned a dividend of Rs 912 crore for the quarter towards Rs 576 crore YoY.
Business and rural loans up 27.6 per cent
Wholesale loans for HDFC Financial institution grew a mere 6 per cent for the quarter whereas retail loans have been up 12.9 per cent. Robust development was seen within the industrial and rural portfolio the place loans jumped 27.6 per cent for the quarter on a yearly foundation. The financial institution mentioned abroad advances accounted for 3.5 per cent of complete advances for the quarter.
Asset high quality improves
Gross non-performing belongings for the quarter fell to 1.35 per cent of gross advances as of September 30 from 1.47 per cent within the June quarter and 1.37 per cent within the year-ago quarter. The financial institution made lesser provisions and contingencies at Rs 3,924.70 crore in contrast with Rs 4,830.84 crore within the June quarter. Whole provisions for the quarter included Rs 1,200 crore value contingent provisions, the financial institution mentioned. Asset high quality enchancment was largely consistent with ET NOW ballot.
Subsidiaries log robust outcomes
Amongst two of its subsidiaries, HDFC Securities clocked a 44 per cent YoY leap in internet revenue at Rs 239.60 crore in contrast with Rs 165.80 crore within the year-ago quarter. Whole revenue for the quarter was up 42 per cent to Rs 489.50 crore in contrast with Rs 344.50 crore. HDFC Financial institution holds 96.2 per cent stake within the broking agency.
One other subsidiary HDB Monetary Providers noticed a turnaround, with revenue coming in at Rs 191.70 crore in contrast with a lack of Rs 85 crore within the year-ago quarter. The NBFC reported a revenue of Rs 85 crore within the June quarter. Consolidated revenue for HDFC Financial institution rose 18.1 per cent to Rs 9,096 crore.
Stability sheet swells 14.6 per cent
At Rs 18,44,845 crore, the stability sheet dimension of HDFC Financial institution rose 14.6 per cent for the quarter, up 14.6 per cent YoY over Rs 16,09,428 crore within the year-ago quarter. Whole advances grew 15.5 per cent to Rs 11,98,837 crore and outpaced deposits that have been up 14.4 per cent at Rs 14,06,343 crore. CASA deposits accounted for 46.8 per cent complete deposits.
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