Gruh Finance Q1 Net profit up 26%
Ahmedabad-based Gruh Finance Ltd, a subsidiary of HDFC Ltd, has recorded a net profit rise of 26% for the first quarter (Q1) ended on June 30, 2013.
AHMEDABAD: Ahmedabad-based Gruh Finance Ltd, a subsidiary of HDFC Ltd, has recorded a net profit rise of 26% for the first quarter (Q1) ended on June 30, 2013.
According to a press statement issued by the company, profit after tax (net profit) stood at Rs 33.77 crore as compared to Rs 26.72 crore for the previous year for the same period. Housing loan portfolio increased by 32%, amounting to Rs 5727.21 crore as against Rs 4338.49 crore in the previous year.
Loan disbursements during the quarter were Rs 566.86 crore against Rs 440.64 crore in the previous year indicating a growth of 29%. Cumulative loan disbursements as on June 30, 2013 were Rs 10083.64 crore.
Gross Non-Performing Assets (NPA) for the quarter stood at Rs 26.30 crore (0.46%) of the total loan outstanding portfolio of Rs 5727.21 crore. However, net NPA was at Rs 2.92 crore (0.05%) only.
Gruh Finance has a network of 136 retail offices across 7 states of the country. On Monday, Gruh Finance stock surged by 1.94% closing at Rs 233.90 on Bombay Stock Exchange ( BSE).
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