India’s largest home finance company HDFC reported a 11 per cent rise in net profit to Rs 1,723.10 crore at the end of the fourth quarter driven by growth in retail home loans and profit from the sale of investments. HDFC’s board of directors at its meeting held on Tuesday recommended dividend of Rs 14 per share for FY14.
Total income of the company rose 16.84 per cent to Rs 6,620.33 crore which includes Rs 127.61 crore from the sale of investment. However, the total expenditure of the company rose by 20.03 per cent to Rs 4294.72 crore.
Total income from operations went up 16.75 per cent to Rs 6,492.72 crore. However, its net interest income (NII) was below estimates. NII rose 9 per cent to Rs 2,073 crore from Rs 1,899 crore in the same period a year ago.
HDFC share price was down 1.12 per cent at Rs 877.25 in the Bombay Stock Exchange.
The lender’s margins improved and asset quality remained stable. Its net interest margins (NIMs) were at 4.1 per cent as of FY14. Its gross non performing loan stood at 0.69 per cent at Rs 1357 crore in FY14. Its gross loan book increased marginally to Rs 1.97 lakh crore from Rs 1.7 lakh crore y-o-y, whereas borrowings were of Rs 1.84 lakh crore versus Rs 1.58 lakh crore on a yearly basis.
Rahul Shah, vice-president, equity advisory group, Motilal Oswal Securities said, “HDFC results were in line with our estimates. They reported a net profit of Rs 1,720 crore versus our expectation of Rs 1,711 crore. During the quarter its NII rose to 9.2 per cent to Rs 2073 crore from our estimates of Rs 2,258 crore.”
According to the HDFC release the company saw a 26 per cent growth in the individual loan book (after adding back the loans sold in the preceding 12 months). The gross non-performing loans stood at 0.69 per cent of the loan portfolio as on March 31 compared with 0.77 per cent as on December 31.
Emkay Global research said in a report, “Loan growth at 16 per cent (on book), continues to be dominated by individual loans (19 per cent y-o-y). Adjusted for sale down, the loan growth stood at 20 per cent versus 26 per cent for total individual loans.”
This Article taken from mydigitalfc : http://www.mydigitalfc.com/news/hdfc-q4-net-profit-11-727
Total income of the company rose 16.84 per cent to Rs 6,620.33 crore which includes Rs 127.61 crore from the sale of investment. However, the total expenditure of the company rose by 20.03 per cent to Rs 4294.72 crore.
Total income from operations went up 16.75 per cent to Rs 6,492.72 crore. However, its net interest income (NII) was below estimates. NII rose 9 per cent to Rs 2,073 crore from Rs 1,899 crore in the same period a year ago.
HDFC share price was down 1.12 per cent at Rs 877.25 in the Bombay Stock Exchange.
The lender’s margins improved and asset quality remained stable. Its net interest margins (NIMs) were at 4.1 per cent as of FY14. Its gross non performing loan stood at 0.69 per cent at Rs 1357 crore in FY14. Its gross loan book increased marginally to Rs 1.97 lakh crore from Rs 1.7 lakh crore y-o-y, whereas borrowings were of Rs 1.84 lakh crore versus Rs 1.58 lakh crore on a yearly basis.
Rahul Shah, vice-president, equity advisory group, Motilal Oswal Securities said, “HDFC results were in line with our estimates. They reported a net profit of Rs 1,720 crore versus our expectation of Rs 1,711 crore. During the quarter its NII rose to 9.2 per cent to Rs 2073 crore from our estimates of Rs 2,258 crore.”
According to the HDFC release the company saw a 26 per cent growth in the individual loan book (after adding back the loans sold in the preceding 12 months). The gross non-performing loans stood at 0.69 per cent of the loan portfolio as on March 31 compared with 0.77 per cent as on December 31.
Emkay Global research said in a report, “Loan growth at 16 per cent (on book), continues to be dominated by individual loans (19 per cent y-o-y). Adjusted for sale down, the loan growth stood at 20 per cent versus 26 per cent for total individual loans.”
This Article taken from mydigitalfc : http://www.mydigitalfc.com/news/hdfc-q4-net-profit-11-727
