Housing finance major, HDFC reported a net profit of Rs. 1,140.10 crore for the quarter ended December 31, 2012, as compared to Rs. 981.25 crore in the corresponding period of previous year.
For the nine-months ended December 31, 2012, it reported a net profit of Rs.3,293.13 crore against Rs. 2,796.48 crore in the year-ago period, an increase of 18 per cent.
As at December 31, 2012, total assets of HDFC stood at Rs. 1,83,770 crore against Rs. 1,54,036 crore as at December 31, 2011, an increase of 19 per cent.
The loan book stood at Rs. 1,60,941crore against Rs. 1,32,208 crore as at December 31, 2011.
The spread on loans over the cost of borrowings for the nine-months ended December 31, 2012 stood at 2.28 per cent. Net interest margin (NIM) for the period ended December 31, 2011 was 4.1 per cent.
Gross non-performing loans as at December 31, 2012, amounted to Rs. 1,224 crore. This is equivalent to 0.75 per cent of the loan portfolio (previous year – 0.82 per cent).“This is the thirty-second consecutive quarter end at which the percentage of non-performing loans has been lower than the corresponding quarter in the previous year,” said HDFC in a press release.
The balance in the provision for contingencies account as at December 31, 2012, stood at Rs. 1,783 crore as against a regulatory provisioning requirement of Rs. 1,492 crore. “Hence the excess provision carried by the Corporation over the regulatory requirement was Rs. 291 crore.
Of this Rs. 1,276 crore comprises general provisioning on standard loans, including provisioning on dual rate home loans,” said HDFC.
HDFC’s capital adequacy ratio stood at 17.5 per cent of the risk weighted assets, as against the minimum requirement of 12 per cent. Tier 1 capital adequacy was 14.9 per cent.