ADVERTISEMENT

HDFC Q3 standalone net profit at Rs 2,114 cr

HDFC Q3 standalone net profit at Rs 2,114 cr

Published
Hot News
1 min read
HDFC. (Photo: Twitter/@HDFC_Bank)
Mumbai, Jan 29 (IANS) Housing finance major HDFC on Tuesday reported a standalone net profit of Rs 2,114 crore during the third quarter of 2018-19.
According to the company, standalone net profit during the quarter under review was not comparable with that of the quarter ended December 31, 2017 as the latter included the proceeds from the IPO of HDFC Life.
The company had reported a net profit of Rs 5,300 crore for the corresponding period of the previous fiscal.
Besides, the firm's net interest income during the quarter under review stood at Rs 2,871 crore compared to Rs 2,442 crore in the corresponding quarter of the previous year, representing a growth of 18 per cent.
"As per National Housing Bank (NHB) norms, the gross non-performing loans as at December 31, 2018 stood at Rs 4,731 crore. This is equivalent to 1.22 per cent of the loan portfolio," the company said in a statement.
"As per NHB norms, the corporation is required to carry a total provision of Rs 3,068 crore. As against this, the balance in the Provisions and Loan Losses Account as at December 31, 2018 stood at Rs 5,220 crore. This is equivalent to 1.35 per cent of the loan portfolio."
The company's scrip at the BSE slipped by 1.53 per cent or Rs 29.80 to Rs 1,918.80 on Tuesday from its previous close of Rs 1,948.60.
--IANS
rv/prs

(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)

(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)

(The Quint is available on Telegram. For handpicked stories every day, subscribe to us on Telegram)

We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated.

Liked this story? We'll send you more. Subscribe to The Quint's newsletter and get selected stories delivered to your inbox every day. Click to get started.

The Quint is available on Telegram & WhatsApp too, click to join.

ADVERTISEMENT
Stay Updated

Subscribe To Our Daily Newsletter And Get News Delivered Straight To Your Inbox.

Join over 120,000 subscribers!
ADVERTISEMENT