Gruh Finance Q3 profit rises 19% to Rs 64 cr

Gruh Finance, a subsidiary of HDFC Ltd today posted a 19.1 per cent rise in net profit to Rs 64 crore for the third quarter of 2016-17.

The mortgage firm had recorded a net profit of Rs 53.7 crore in the October-December quarter of last fiscal, Gruh Finance said in a filing to stock exchanges.

The total income of the lender also increased to Rs 381 crore during the quarter under review, as against Rs 323.5 crore in the year-ago period.

The gross non-performing assets (NPAs) of the company declined to 0.54 per cent of the total advances during the third quarter from 0.64 per cent in the same quarter previous fiscal.