HDFC Ltd Q3 Results FY2023, PAT at Rs. 3,690.8 crores

On 2nd February, HDFC announced its results for the third quarter of FY2023.

Key Highlights:

- The NII stood at Rs. 4,840 crores compared to Rs. 4,284 crores in the previous year, registering a growth of 13%.
- The profit before tax stood at Rs. 4,612 crores compared to Rs. 4,048 crores in the corresponding quarter of the previous year.
- The company reported a profit after tax stood at Rs. 3,690.8 crores compared to Rs. 3,260.69 crores in the corresponding quarter of the previous year.

Business Highlights:

- During the nine months that ended December 31, 2022, individual approvals and disbursements grew by 21% and 23% respectively compared to the corresponding period in the previous year. 
- During the nine months ended December 31, 2022, 94% of new loan applications were received through digital channels.
- During the nine months ended December 31, 2022, the average size of individual loans stood at Rs. 35.7 lac compared to Rs. 33.1 lac in FY22. 
- As at December 31, 2022, the assets under management stood at Rs. 7,01,485 crore as against Rs. 6,18,917 crore in the previous year.
- As at December 31, 2022, individual loans comprise 82% of the Assets Under Management (AUM).
- As at December 31, 2022, the outstanding amount in respect of individual loans sold was Rs. 97,700 crore. HDFC continues to service these loans. 
- The collection efficiency for individual loans on a cumulative basis stood at 99% during the nine-months ended December 31, 2022
- The gross NPLs as at December 31, 2022 stood at Rs. 8,880 crore.
- As at December 31, 2022, the Corporation’s capital adequacy ratio stood at 23.7%, of which Tier I capital was 23.2% and Tier II capital was 0.5%. As per regulatory norms, the minimum requirement for the capital adequacy ratio and Tier I capital is 15% and 10% respectively.
- HDFC’s distribution network spans 724 outlets which include 213 offices of HDFC’s distribution company, HDFC Sales Private Limited (HSPL).