Financial Daily from THE HINDU group of publications
Tuesday, Oct 26, 2004
Financial Daily from THE HINDU group of publications Tuesday, Oct 26, 2004 |
||
|
|
||
|
Corporate Results
-
Housing Finance Money & Banking - Financial Performance HDFC Q2 net up 22 pc at Rs 248 cr Our Bureau
Mumbai , Oct. 25 AN increase in housing loans business and maintenance of interest spread has helped HDFC report 22 per cent increase in net profit for the second quarter of the current fiscal. Net stood at Rs 248.13 crore against Rs 203.24 crore during the second quarter of the previous fiscal. "The spread was maintained at 2.2 per cent," said a company official. Income from operations rose 8.6 per cent to Rs 840 crore from Rs 773.73 crore earlier. Total expenditure rose minimally to Rs 528.39 crore (Rs 521.04 crore). Profit before tax at Rs 310.6 crore (Rs 249.3 crore) rose 25 per cent, while provision for tax stood at Rs 62.47 crore (Rs 46.06 crore). For the six months ended September 30, the company reported a 22 per cent increase in net profit at Rs 452.75 (Rs 371 crore). Income from operations stood at Rs 1,601.43 crore (Rs 1,499.61 crore). Under income from operations, interest on loans accounted for Rs 1,235.37 crore (Rs 1,178.27 crore). Fees and other charges were almost the same as earlier. Income from leased properties at Rs 76.63 crore showed a marked increase from the year-ago figure of Rs 13.36 crore. The loan portfolio as on September 30 amounted to Rs 31,938 crore, 27 per cent higher than Rs 25,148 crore earlier, said a company release. Approvals during the six-month period amounted to Rs 8,907 crore (Rs 6,871.95 crore), growing 30 per cent. Disbursements grew 28 per cent to Rs 6,983 crore (Rs 5,470 crore). With respect to individual loans, approvals and disbursals were higher by 30 per cent and 29 per cent, respectively. The company's current capital adequacy ratio stands at 14.7 per cent of the risk weighted assets (of which Tier I capital is 13.3 per cent), against the minimum requirement of 12 per cent. Non-performing assets have been contained well, as compared to the industry average; they stand at less than one per cent of total assets, an official said.
More Stories on : Housing Finance | Financial Performance
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|