Mortgage lender HDFC Ltd on Friday clocked a 22.2 per cent rise in its standalone net profit to Rs 3,668.92 crore for the first quarter ended June 30, on higher income driven by robust loan disbursements, the PTI reported. According to the report, HDFC’s net profit in the same quarter a year ago stood at Rs 3,001 crore.
In a regulatory filing, HDFC said that its total income during the June 2022 quarter increased to Rs 13,248.73 crore against Rs 11,663.14 crore in the year-ago period. The company said its individual loan disbursements during the quarter rose 66 per cent.
The consolidated net profit for the quarter stood at Rs 5,574 crore compared to Rs 5,311 crore.
The home loan financier posted net interest income (NII) of Rs 4,447, relative to Rs 4,147 crore in Q1FY22, and Rs 4,601 crore in Q4FY22. Net interest margin came in at 3.4 per cent for the quarter under review.
HDFC said it proposes to raise an international social loan of $1.1 billion, which is its first international social loan from India and among the largest globally.
“As at June 30, 2022, individual loans comprise 79 per cent of the Assets Under Management (AUM). On an AUM basis, the growth in the individual loan book was 19 per cent. This marks the highest percentage growth in the individual loan AUM in 8 years,” HDFC said in a statement.
The management said assets under management (AUM) at the end of the June quarter stood at Rs 6.71 lakh crore, as against Rs 5.74 lakh crore at the end of Q1FY22. At the end of March 2022 quarter, HDFC’s AUM stood at Rs 6.54 lakh crore.
Shares of HDFC were up 1.85 per cent to Rs 2,379.10 apiece on the BSE on Friday.