Today, 11th July 2012, India’s largest housing finance company HDFC declared its first quarter (Q1 – FY 2012 – 2013) results.
In first quarter ended 30th June 2012, the company reported net profit of Rs. 1,002 crores – a 19% year-on-year growth, on back of a robust loan growth.
During the quarter, company’s loan book grew by 19% y-o-y to Rs 1.48 lakh crore.
However, HDFC’s gross non-performing loan (NPL) ratio slightly increased from 0.74% to 0.79% quarter-on-quarter while the net NPL too rose by 5 basis points to 0.49%.
Meanwhile, HDFC earned handsome dividend of Rs 159 crore as compared to Rs 131 crore a year back in the same period. Dividends come from its subsidiaries and associate companies.
The home loan major also earned a profit of Rs 20 crore on the sale of investments (Rs 16 crore in Q1, FY12).
In short, the results are in line with street expectations and brokerage house estimates.