HDFC posts 54 per cent rise in standalone profithttps://indianexpress.com/article/business/banking-and-finance/hdfc-posts-54-per-cent-rise-in-standalone-profit-5283925/

HDFC posts 54 per cent rise in standalone profit

HDFC’s total standalone income for the quarter under review increased by 20 per cent to Rs 9,952 crore, from Rs 8,289.98 crore a year-ago.

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Gross non-performing loan stood at Rs 4,409 cr as on June 2018, 1.18% of its loan portfolio

Housing finance firm HDFC Ltd on Monday reported a 54 per cent jump in its standalone net profit to Rs 2,190 crore for the first quarter ended June, 2018-19. The firm had registered a net profit of Rs 1,424.47 crore in the April-June quarter of last fiscal.

HDFC’s total standalone income for the quarter under review increased by 20 per cent to Rs 9,952 crore, from Rs 8,289.98 crore a year-ago. The respective consolidated figures were not provided by the company. The mortgage lender’s revenue from operations increased to Rs 9,883.64 crore during June quarter of 2018-19, against Rs 8,259.77 crore in the year-ago period. Its gross non-performing loan stood at Rs 4,409 crore as on June 2018. This is 1.18 per cent of its loan portfolio.

The non-performing loans of the individual portfolio stood at 0.66 per cent, while that of the non-individual portfolio stood at 2.32 per cent, said HDFC. The firm’s net interest income for the  first quarter stood at Rs 2,890 crore, up 20 per cent as against Rs 2,412 crore a year ago.