MUMBAI: HDFC Financial institution on Saturday reported a web revenue of Rs 8,176 crore for the quarter ended March 2021 – a rise of 18% over Rs 6,927 crore within the corresponding quarter final 12 months. The revenue for the complete 12 months was additionally up 18% at Rs 31,116 crore in comparison with Rs 26,257 crore a 12 months earlier.
The financial institution’s consolidated web revenue for the quarter ended March 31, 2021, was Rs 8,434 crore, up 15.8%, over the earlier 12 months.
Complete deposits rose 16% to Rs 13,35,060 crore from Rs 11,47,502 crore final 12 months. Advances grew 14% to Rs 11,32,836 crore from Rs 9,93,702 crore in March 2020.
Progress in advances was pushed by a rise in enterprise loans. Retail loans grew by solely 8%. Retail mortgage development was pushed by dwelling loans, Kisan gold playing cards, and an increase in bank card excellent. Auto loans had been sluggish and the financial institution shrunk its business automobile and two-wheeler mortgage portfolio in the course of the 12 months. The bank card excellent grew 12% in the course of the 12 months to Rs 57,575 crore regardless of RBI barring the financial institution from issuing new playing cards within the fourth quarter.
Regardless of the sharp development in advances, curiosity earnings was up only one% at Rs 23,811 crore. However a 9% drop in web curiosity bills resulted in Web curiosity earnings for the quarter ended March 31, 2021, rising by 12.6% to Rs 17,120.2 crore from Rs 15,204 crore final 12 months.
Income had been hit by a 24% improve in provisioning to Rs 4693 crore. The financial institution’s finance subsidiary HDB Monetary Companies nonetheless reported a drop in web revenue to Rs 502 crore for the 12 months ended March 2021 from Rs 1036 crore for the 12 months ended March 2020.
Gross non-performing belongings (NPAs) had been at 1.32% of gross advances as of March 31, 2021, as towards 1.26% as of March 31, 2020. Web non-performing belongings had been at 0.40% of web advances as of March 31, 2021.