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On February 2, Housing Development Finance Corporation Ltd. (HDFC) announced a solid 13 percent increase in net profit for the December quarter, owing to strong loan disbursements and steady yield spreads.
The lender’s net interest income increased by 13% to Rs 4,840 crore in the December quarter, up from Rs 4,284 crore in the same quarter of FY22.
The largest home financing firm in the country posted a net profit of Rs 3,690.80 crore for the December quarter, up from Rs 3,260.69 crore in the same period last year.
The lender’s overall interest revenue increased to Rs 14,457 crore from Rs 11,055 crore the previous year. Total operating income was Rs 15,230.12 crore, up from Rs 11,783.60 crore the previous year.
On an asset under management (AUM) basis, HDFC’s loan book expanded by 13% year over year.
