HDFC Earned Rs 40.7 Crore/Day In 90 Days! Profits Increased By 22%

HDFC reported a 22 per cent jump in its standalone profit after tax to Rs 3,669 crore for the June 2022 quarter.

Net interest income

The figure in the corresponding period a year ago was Rs 3,001 crore.

Its net interest income (NII) during April-June 2022 stood at Rs 4,447 crore, about 7.8 per cent higher as against Rs 4,125 crore a year ago.

Preferential issue of equity shares

The company’s board approved the investment of an amount of maximum Rs 2,000 crore in the preferential issue of equity shares to be made by HDFC Life Insurance Company Limited, subject to approvals, if any.

Raising of funds

It also greenlit raising of funds by way of External Commercial Borrowing (ECB) in the form of loans for an amount of up to $1.5 billion equivalent, in accordance with directions/guidelines issued by RBI.

Loan disbursement

During the quarter ended June 30, 2022, individual loan disbursements grew by 66% over the corresponding quarter of the previous year.

The lender even said that this was the highest ever disbursement for the Corporation in the first quarter of any financial year so far.

Assets under management

As of June 30, 2022, the assets under management (AUM) stood at Rs 6,71,364 crore as against Rs,74,136 crore in the previous year. 

As of June 30, 2022, individual loans comprise 79% of the Assets Under Management (AUM).

Individual non-performing loans

As of June 30, 2022, the gross individual non-performing loans (NPLs) stood at 0.98% of the individual portfolio, while the gross non-performing non-individual loans stood at 4.44% of the non-individual portfolio.

Gross NPLs as at June 30, 2022 stood at Rs 10,288 crore, equivalent to 1.78% of the portfolio.

This is an improvement compared to December 31, 2021 where the gross individual NPLs stood at 1.44% and the gross non-individual NPLs stood at 5.04% of the non-individual portfolio.