HDB Financial Services posts net profit of Rs 304 cr in Q3

However, credit growth remains flat

HDB Financial Services Limited (HDBFSL) posted a net profit of Rs 304.1 crore in the third quarter ended December 2021 (Q3FY22). It had posted loss of Rs 146.2 crore in same quarter last year (Q3FY21).

Sequentially, net profit rose over 50% when compared to Rs 191.7 crore reported in the second quarter ended September 30, 2021 (Q2FY22). HDBFSL is a subsidiary of HDFC Bank.

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. 

The liquidity coverage ratio was healthy at 222 per cent in December 2021.

Its gross non-performing assets stood at 6.05 per cent at end of December 2021 as against 5.9 per cent (proforma basis) a year ago and 6.1 per cent in September 2021.

Its Capital Adequacy Ratio (CAR) was at 20.3 per cent with Tier-I at 14.9 per cent in December 2021.

As on December 31, 2021, HDBFSL had 1,328 branches across 965 cities / towns.