The nation’s largest private-sector HDFC Financial institution on Saturday reported an 18.1 per cent rise in its standalone web revenue at Rs 10,342.20 crore for the quarter ended December 2021, helped by wholesome non-interest revenue and fall in unhealthy loans provisioning.
The financial institution had registered a web revenue of Rs 8,758.29 crore within the corresponding quarter of the final fiscal yr.
Whole revenue on a standalone foundation rose to Rs 40,651.60 crore within the October-December quarter of FY22, as towards Rs 37,522.92 crore in the identical interval of FY21, HDFC Financial institution mentioned in a regulatory submitting.
Its non-interest revenue comprised practically 31 per cent of web revenues at Rs 8,183.6 crore throughout Q3 FY22, up by about 10 per cent from a yr in the past.
Web curiosity revenue (curiosity earned minus curiosity expended) rose by 13 per cent to Rs 18,443.50 crore from Rs 16,317.60 crore.
The advances grew at 16.5 per cent reaching new heights pushed by way of relationship administration, digital providing and breadth of merchandise. New legal responsibility relationships added through the quarter remained in any respect time excessive, the lender mentioned.
Continued deal with deposits helped in upkeep of a wholesome liquidity protection ratio at 123 per cent, nicely above the regulatory necessities, which positions the financial institution favourably to capitalise on progress alternatives, it added.
On the asset high quality aspect, there was an increase in financial institution’s unhealthy mortgage proportion with the gross non-performing belongings (NPAs) rising to 1.26 per cent of the gross advances as of December 30, 2021 as towards 0.81 per cent from yr in the past identical interval.
It was down sequentially from 1.35 per cent by the tip of September 2021.
Web NPAs or unhealthy loans too rose to 0.37 per cent yr on yr from 0.09 per cent, however down from 0.40 per cent sequentially.
Regardless of the rise in unhealthy mortgage ratio, its provisions and contingencies for the quarter ended December 31, 2021 fell to Rs 2,994 crore, as towards Rs 3,414.10 crore for the quarter ended December 2020.
The provisioning consisted of particular mortgage loss provisions of Rs 1,820.60 crore and normal and different provisions of Rs 1,173.40 crore. Whole provisions for Q3 FY22 included contingent provisions of practically Rs 900 crore.
Financial institution’s complete deposits grew by 13.8 per cent to Rs 1,445,918 crore as of December 31, 2021. Whole advances rose by 16.5 per cent to Rs 1,260,863 crore.
On a consolidated foundation, financial institution’s web revenue was up by 21 per cent to Rs 10,591 crore within the December 2021 quarter, as towards Rs 8,769 crore within the year-ago interval.
Earnings (consolidated) rose to Rs 43,365 crore from Rs 39,839 crore.
“We added 294 branches and 16,852 people over the last 12 months and made other investments to position ourselves and capitalise on the growth opportunity. Operating expenses for the quarter ended December 31, 2021 were Rs 9,851.10 crore, an increase of 14.9 per cent over Rs 8,574.80 crore during the corresponding quarter of the previous year. The cost to income ratio for the quarter was at 37 per cent,” HDFC Financial institution mentioned within the submitting.