HDFC Financial institution Ltd. reported fourth-quarter standalone web revenue rose 37.1% to ₹16,512 crore, from ₹12,047 crore within the year-earlier interval, aided by a 24.5% progress in web curiosity revenue (NII) at ₹29,080 crore.
Core web curiosity margin was at 3.44% on whole belongings, and three.63% based mostly on curiosity incomes belongings, the personal sector financial institution stated in a submitting.
For the 12 months ended March 31, the financial institution’s revenue after tax elevated 37.9% to ₹60,810 crore.
The Board of Administrators really useful a dividend of ₹19.5 per fairness share of ₹1 for the 12 months ended March 31, 2024.
“The credit score setting within the financial system stays benign, and the financial institution’s credit score efficiency throughout all segments continues to stay wholesome,” CFO Srinivasan Vaidyanathan stated on a post-earnings convention name. “The financial institution’s GNPA at 1.24% has proven an enchancment over the prior quarter,” he added.
“The financial institution has thought-about this as an opportune stage to reinforce its floating provisions, which aren’t particular to any portfolio, however act as a countercyclical buffer for making the steadiness sheet extra resilient, and these additionally qualify as Tier 2 Capital inside the regulatory limits,” he stated, including that the lender had put aside floating provisions of ₹10,900 crore.
Provisions and contingencies for the quarter ended March 31 amounted to ₹13,510 crore (together with the floating provisions of ₹10,900 crore).
Provisions and contingencies, excluding the floating provisions, declined to ₹2,610 crore, from ₹2,690 crore within the year-earlier interval.
The overall credit score price ratio (excluding the floating provisions) was at 0.42%, in contrast with 0.67% for the quarter ending March 31, 2023, the financial institution stated.
Complete deposits elevated 26.4% to ₹23,79,800 crore as of March 31, 2024, and gross advances elevated 55.4% to ₹25,07,800 crore.
Gross non-performing belongings had been at 1.24% of gross advances as on March 31, 2024, as towards 1.26% as on December 31, 2023, and 1.12% as on March 31, 2023. Internet non-performing belongings had been at 0.33% of web advances as on March 31, 2024.
The financial institution’s consolidated revenue after tax for the quarter elevated 30.9% to ₹17,620 crore.
The consolidated revenue after tax for the 12 months ended March 31 rose 39.3% to ₹64,060 crore.
