HDFC Reports 20% QoQ Growth in Profit After Tax to ₹4,425 Crore, 18% YoY Growth to ₹16,239 Crore
HDFC published its audited financial results for the quarter and year ended March 31, 2023. Key financial highlights include a 20% increase in Profit After Tax for the quarter and an 18% rise in Profit After Tax for the year compared to the previous periods. The company's Assets Under Management saw a 24% growth, and the individual loan book grew by 16%. Despite a significant decrease in net gain on investments, the dividend income and profit on sale of investments saw an increase. Collection efficiency improved, and there was a decrease in the gross NPLs ratio. The net interest income increased by 16% for the quarter and 13% for the year, but the net interest margin dropped to 3.6% due to an increase in interest rates. The individual loan book spread was 1.92%, and the non-individual loan book spread was 3.62%.
