HDFC hits a new low
By Ruma Dubey
about 1 year ago
HDFC is down in the red today, going down to Rs.2321, hitting a new 52-week low. Its 10% LC of the day is at Rs.2183.95.
The stock hit a low after the company reported a 11% (YoY) jump in net profit at Rs.3261 crore, which was very much as per expectations. This rise in net profit was on the back of a 7% increase in NII at Rs.4284 crore. What also helped was the lower expected credit loss at Rs.393 crore, down 34%.
The gross non-performing loans (NPLs) of the lender stood at 2.32%, up 32 bps (QoQ).
The institution’s provision stands at Rs.13,195 crore v/s requirement of Rs.7450 crore.
At the end of the quarter, AUM rose 12% at Rs.6.19 trillion of which individual loans comprised 79%, growth of 16%.