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HDFC arm Gruh Finance Q1 net grows 20% to Rs 72 cr

Press Trust of India  |  New Delhi 

Mortgage lender Ltd's subsidiary today reported a jump of 20 per cent in its net profit at Rs 72 crore for the first quarter through June.

Net profit stood at Rs 60 crore in April-June of 2016-17.

Total from operations grew to Rs 398.12 crore for the reported quarter, from Rs 346.34 crore a year ago.

"The focus continues to remain on retail home loans, which constitute Rs 922 crore (77 per cent of the total disbursement) during the quarter and has grown at 39 per cent over the corresponding figure of the previous year," Gruh said in a statement.

Gross non-performing assets (NPAs) as of June 30 stood at Rs 87.25 crore, or 0.64 per cent of the total outstanding.

increased to Rs 1,485 crore at the end of June 2017, from Rs 1,395 crore a year ago.

Present across 11 states, Gruh has a total of 186 retail offices across

The stock traded down 3.11 per cent at Rs 486.95 on the

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 17 2017. 14:32 IST