The nation’s largest personal sector lender HDFC Financial institution reported a 35 per cent leap in its standalone revenue after tax (PAT) at Rs 16,174.75 crore within the quarter ended June 30, in comparison with Rs 11,951.77 crore within the 12 months in the past interval.
On a sequential foundation, the financial institution’s web revenue fell by 2 per cent within the April-June 2024 quarter.
Web curiosity revenue (NII), which is curiosity earned much less curiosity expended, grew by 26.4 per cent to Rs 29,840 crore in Q1 FY2025, as towards Rs 23,600 crore in the identical quarter of final fiscal.
Web curiosity margin (NIM) stood at 3.7 per cent based mostly on curiosity incomes belongings, and at 3.5 per cent on complete belongings.
Within the reporting quarter, working bills elevated by 18.2 per cent to Rs 16,620 crore, as towards Rs 14,060 crore through the corresponding quarter of the earlier 12 months. The price-to-income ratio for the quarter was at 41 per cent, the financial institution stated.
In July final 12 months, HDFC Ltd acquired merged with HDFC Financial institution.
Gross non-performing belongings (GNPA) have been at 1.33 per cent of gross advances as on June 30, 2024 (1.16 per cent excluding NPAs within the agricultural phase), as towards 1.41 per cent on a professional forma merged foundation as on July 1, 2023 (1.25 per cent excluding NPAs within the agricultural phase). Web non-performing belongings have been at 0.39 per cent of web advances as on June 30, 2024.
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The lender’s provisions and contingencies stood at Rs 2,600 crore billion as towards Rs 2,860 crore for the quarter ended June 30, 2023. The whole credit score value ratio was at 0.42 per cent, as in comparison with 0.70 per cent for the quarter ended June 30, 2023.
Within the three-month ended June 30, 2024, the financial institution’s complete stability sheet measurement stood at Rs 35.67 lakh core as towards Rs 25.02 lakh crore within the year-ago quarter.
Whole deposits grew by 24.4 per cent to Rs 23,79,100 crore as in June 2024, from Rs 19,13,100 crore within the year-ago quarter. Present Account Financial savings Account (CASA) deposits grew by 6.2 per cent with financial savings account deposits at Rs 5,96,400 crore and present account deposits at Rs 2,67,300 crore.
Time deposits have been at Rs 15,15,400 crore, a rise of 37.8 per cent over the corresponding quarter of the earlier 12 months, leading to CASA deposits comprising 36.3 per cent of complete deposits as of June 30, 2024.
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Gross advances stood at Rs 24,86,900 crore as of June 30, 2024, a rise of 52.6 per cent over Rs 16,30,000 crore in June 30, 2023. Retail loans grew by 100.4 per cent, business and rural banking loans grew by 23 per cent and company and different wholesale loans grew by 18.7 per cent. Abroad advances constituted 1.5 per cent of complete advances.
In a latest handle to shareholders, the financial institution’s Managing Director & Chief Govt Officer, Sashidhar Jagdishan stated the lender would develop its advances at a slower tempo than deposits because it focuses on bringing down its credit score to deposit ratio to ranges previous to the merger with HDFC Ltd.