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