• HDB Financial Services 3rd quarter results

    15 January

HDB Financial Services Limited (HDBFSL) is a subsidiary of HDFC Bank. As on December 31, 2021, HDBFSL had 1,328 branches across 965 cities / towns.

HDBFSL posted a net profit of Rs 304.1 Cr in the third quarter ended December 2021. It had posted loss of Rs 146.2 crore in same quarter last year..=

Sequentially, net profit rose over 50% when compared to Rs 191.7 Cr reported in the Q2 of FY22. Its revenues in the reporting quarter rose 15 per cent to Rs 1,981.6 crore from Rs 1,723.7 crore in Q3FY21. Sequentially, they grew marginally from Rs 1,916.7 crore in Q2FY22.

Its credit growth, on an annual basis, was flat as its total loan book stood at Rs 60,478 crore at end of December 2021 as against Rs 60,068 crore a year ago and Rs 60,008 crore in September 2021. In Dec'21 the liquidity coverage ratio was healthy at 222% while its gross non-performing assets stood at 6.05% as against 5.9%(proforma basis) a year ago and 6.1% in Sep'21. Its Capital Adequacy Ratio (CAR) was at 20.3 per cent with Tier-I at 14.9 per cent in Dec'21.