Ashok Leyland Q4 Result 2024: Net Profit Rises 20% to ₹900 crore
HDFC Ltd Q2 Results FY2023, PAT at Rs. 4454 crores
On 3rd November 2022, HDFC Ltd announced its quarterly results for the second quarter of FY2023.
Q2FY23 Performance updates:
- Revenue from Operations stood at Rs. 15,027.21 crores with a growth of 23% YoY.
- The profit before tax for Q2FY23 stood at Rs. 5,414 crores.
- The Corporation reported a profit after tax stood at Rs. 4,454 crores, representing a growth of 18%.
Business Highlights:
- During H1FY23 individual approvals and disbursements grew by 35%. The demand for home loans continues to remain strong. Growth in home loans was seen in both, the mid-income segment as well as high-end properties.
-During H1FY23, 92% of new loan applications were received through digital channels.
- During H1FY23, the average size of individual loans stood at Rs. 35.7 lakhs compared to Rs. 33.1 lakhs in FY22.
- The assets under management stood at Rs. 6,90,284 crores as against Rs. 5,97,339 crores in the previous year. Individual loans comprise 81% of the Assets Under Management (AUM).
- On an AUM basis, the growth in the individual loan book was 20% and the growth in the total loan book on an AUM basis was 16%.
- During Q2FY23, the Corporation assigned loans amounting to Rs. 9,145 crores to HDFC Bank.
- Loans sold in the preceding 12 months amounted to Rs. 34,513 crores. The outstanding amount in respect of individual loans sold was Rs. 93,566 crores.
- The growth in the individual loan book, after adding back loans sold in the preceding 12 months was 28%. The growth in the total loan book after adding back loans sold was 21%.
- The collection efficiency for individual loans on a cumulative basis stood at over 99% during Q2FY23.
- The gross individual non-performing loans (NPLs) stood at 0.91% of the individual portfolio, while the gross non-performing non-individual loans stood at 3.99% of the non-individual portfolio. The gross NPLs stood at Rs. 9,355 crores. This is equivalent to 1.59% of the portfolio
- The Corporation carried a total provision of Rs. 13,146 crores. The provisions carried as a percentage of the Exposure at Default (EAD) is equivalent to 2.21%.
- The Corporation’s Expected Credit Loss (ECL) charged to the Statement of Profit and Loss for H1FY23 was lower at Rs. 987 crores.
- Annualised credit costs for Q2FY23 stood at 29 basis points. Credit costs for H1FY23 stood at 31 basis points.
- The NII for Q2FY23 stood at Rs. 4,639 crores registering a growth of 13%.
- The unaccounted gains on listed investments in subsidiary and associate companies amounted to Rs. 2,24,781 crores.
- The Corporation’s capital adequacy ratio stood at 22.5%, of which Tier I capital was 21.9% and Tier II capital was 0.6%.
- HDFC’s distribution network spans 709 outlets which include 212 offices of HDFC’s distribution company
HDFC Ltd share price dropped by 0.11%.
Disclaimer: Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.
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Tanushree Jaiswal
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