HDFC Ltd’s housing subsidiary, Gruh Finance Ltd has registered 22% growth in the net profit for the quarter ended December 2013. The company posted profit after tax of Rs 35.24 crore against Rs 28.89 crore in the corresponding period last year.
The company’s loan assets grew by 31% to Rs 6,544.60 crore in the quarter ended December (Rs 4,995.11 crore).
For the nine month period, the company has registered a net profit of Rs 103.36 crore up by 25% from Rs 82.82 crore in the same period last year.
The loan disbursements were higher at Rs 1,824.74 crore as against Rs 1,490.71 crore indicating a growth of 22%.
Cumulative loan disbursements were at Rs 11,341.52 crore.
The gross non-performing assets (NPAs) as on December 31, 2013 stand at Rs 29.93 crore or 0.46% of the total loan outstanding.
Company’s deposit portfolio increased to Rs 926.94 crore, up from Rs. 632.35 crore last year.