HDFC Q4 net up 8% at Rs1,862 crore

29 Apr 2015


Housing finance major HDFC Ltd has posted an eight per cent year-on-year increase in net profit for the fourth of the 2014-15 fiscal ended 31 March 2015 at Rs1,862 crore against a net profit of Rs1,723 crore in the year-ago


Profit including the deferred tax liability on special reserve grew 15 per cent to Rs1,982 crore during the quarter.

HDFC said the deferred tax liability during January-March quarter was higher at Rs119.77 crore against Rs87.29 crore in the previous quarter and nil in the year-ago period.

Total income from operations grew 12.5 per cent to Rs7,448 crore for the quarter ended March 2015 compared to Rs6,620.3 crore in the corresponding quarter of the previous fiscal.

Net interest income rose 13.5 per cent to Rs2,534 crore during the quarter, said Keki Mistry, vice chairman & CEO of HDFC, adding the company has seen a healthy pick-up in demand for non-individual lending.

its loan book as of March 2015 grew 15.7 per cent to Rs228,000 crore from Rs197,000 crore in the previous year.

Individual loan disbursements grew 16 per cent during the year. After adding back loans worth Rs8,249 crore sold during the year (Rs5,000 sold in Q4 of FY15), the individual book grew 23 per cent.

The average size of individual loans stood at Rs23.3 lakh, up from Rs22.1 lakh in the previous year.

''The growth was in line with the December quarter. Further, the non-individual lending segment saw some pick-up as indicated earlier,'' said Mistry.

The ratio of individual to non-individual segment improved to 78:22 from 85:15 last year.

Net interest margin was marginally lower at 4 per cent against 4.06 per cent a year ago.

Gross non-performing loans reduced a tad to 0.67 per cent of the loan portfolio as at 31 March 2015 compared to 0.69 per cent in the previous year.

Gross non-performing assets as on March 2015 was lower at 0.67 per cent compared to 0.69 per cent as of March 2014.

For the financial year ended 31 March 2015, profit rose 10 per cent to Rs5,990.14 crore and total income jumped 13.5 per cent to Rs27,401.2 crore compared to previous year.

As of end-March 2015, the total loan book outstanding increased by 13 per cent to Rs2,54,000 crore against Rs2,25,000 crore as of March last year.

Profit excluding the impact of deferred tax liability on special reserve grew 17 per cent to Rs6,355 crore during the fiscal.

On a consolidated basis, the net profit rose 15 per cent to Rs8,732 crore during the year ended 31 March 2015.

The board of HDFC recommended a final dividend of Rs13 per equity share of face value Rs2 per share.

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