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Oct 22, 2012, 07.41 PM IST
The country's largest mortgage lender HDFC reported a 19% rise in its net profit at Rs 1151 crore for the quarter ending September 2012 versus Rs 971 crore reported in the Q2 of previous fiscal.
During the same period, its net interest income rose to Rs 1,634 crore versus Rs 1,387 crore in the same period last fiscal.
As at September 30, 2012, the loan book stood at Rs 1,55,128 crore against Rs 1,26,992 crore as at September 30, 2011. Individual loans sold during the preceding twelve months amounted to Rs 5,630 crore. The growth in the individual loan book inclusive of loans sold is 31% (24% net of loans sold) whereas the non-individual loan book grew by 19%. The growth in the total loan book inclusive of loans sold is 27% (22% net of loans sold).
During the six months ended September 30, 2012, the loan book, inclusive of loans sold, grew by Rs 16,771 crore of which Rs 13,141 crore (representing 78% increase) was on account of the increase in the individual loan book.
For the six months ended September 30, 2012, loan approvals grew by 18% and loan disbursements grew by 21% as compared to the corresponding period in the previous year.
For the six months ended September 2012, HDFC reported a profit after tax (standalone) of Rs 2153 crore as compared to Rs 1815.23 crore for the six months ended September 30, 2011 — an increase of 19%. The spread on loans over the cost of borrowings for the half-year ended September 30, 2012 stood at 2.27%. Net Interest Margin for the half year ended September 30, 2012 was 4.2%.
The housing finance major's capital adequacy ratio stood at 16.7% as against the minimum requirement of 12%. Tier 1 capital adequacy was 14.1% as against a minimum requirement of 6%.
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