HDB Financial Services posts net profit of Rs 304 cr in Q3
HDB Financial Services Limited (HDBFSL) recorded a net profit of Rs 304.1 crore in the third quarter ended December 2021 (Q3FY22). It had registered a loss of Rs 146.2 crore in the same quarter last year (Q3FY21).
Sequentially, net profit increased by more than 50% from the Rs 191.7 crore reported in the second quarter ended September 30, 2021 (Q2FY22). HDBFSL is a subsidiary of HDFC Bank.
Its revenue in the reporting quarter increased by 15% to Rs 1,981.6 crore from Rs 1,723.7 crore in Q3FY21. Sequentially, they rose slightly from Rs 1,916.7 crore in Q2FY22.
Its credit growth, on an annual basis, remained stable, with its total loan portfolio standing at Rs 60,478 crore at the end of December 2021, compared to Rs 60,068 crore a year ago and Rs 60,008 crore rupees in September 2021.
The liquidity coverage ratio was healthy at 222% in December 2021.
Its gross non-performing assets stood at 6.05% at the end of December 2021 compared to 5.9% (proforma basis) a year ago and 6.1% in September 2021.
Its Capital Adequacy Ratio (CAR) was 20.3% and Level I was 14.9% in December 2021.
As of December 31, 2021, HDBFSL had 1,328 branches in 965 cities/municipalities.