HDFC standalone internet revenue down 5% in June quarter

by Jeremy Spirogis
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new Delhi: HDFC, the nation's largest mortgage lender, on Thursday launched its outcomes for the primary quarter of the present monetary yr. The firm's standalone internet revenue in the course of the first quarter of the present monetary yr ie April to June declined by 5 per cent to Rs 3,052 crore. Whereas the corporate recorded a standalone internet revenue of Rs 3,203 crore within the year-ago interval.

Total revenue up 0.2 % at Rs 13,017.7 crore

In the earlier quarter, the corporate's complete revenue grew by 0.2 per cent to Rs 13,017.7 crore. In the identical quarter a yr in the past, the determine was Rs 12,990.Three crore. Talking about internet curiosity margin (NIM), it was 3.1 per cent. It was 3.Three % a yr in the past. In the identical June quarter, HDFC Ltd's internet curiosity revenue grew by 10 per cent and reached Rs 3,392 crore. <! –

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The determine was Rs 3,079 crore in the identical quarter a yr in the past.

Company's retail business affected as a consequence of lockdown

HDFC Ltd stated in a discover to the inventory exchanges that 22.four per cent of its complete loans up to now have opted for Moratorium-2, 16.6 per cent of particular person loans have opted for Moratorium-2. It is thought that within the final quarter, the corporate had provisioned Rs 1,199 crore for the corona virus. The internet curiosity revenue of the corporate elevated by 10 % to Rs 3,392 crore within the June quarter, in comparison with Rs 3,079 crore within the year-ago quarter. The retail business of the corporate was affected by the lockdown, though the non-public mortgage section has proven regular enchancment since April. At 3.20 pm, the corporate's shares have been buying and selling at Rs 1,811.80, down 3.60 % on the BSE.

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