HDFC Q2 PAT rises 10 per cent at Rs 1,266 crore; stock down

MUMBAI: HDFC reported a net profit of Rs 1,266 crore for quarter ended September 2013, up 10 per cent, against a net profit of Rs 1,151.1 crore in the corresponding quarter last fiscal. ET Now poll expected a PAT of Rs 1,237 crore.

At 02:00 p.m.; the stock was at Rs 815.50, down 0.38 per cent, on the BSE. It touched a high of Rs 825 and a low of Rs 804.50.

Net interest income for the quarter stood at Rs 1814 crore, up 11 per cent, against Rs 1,633.9 crore in year-ago period.

Gross NPAs for the quarter increased to 0.79 per cent against 0.77 per cent in previous quarter. Spreads stood at 2.24 per cent vs 2.29 per cent, quarter-on-quarter.

Loan book for the period stood at Rs 1.85 lakh crore against Rs 1.55 lakh core, Year-on-Year (Y-o-Y). The bank released Rs 45.81 crore from standard provisioning.

According to the management the bank’s loan book has seen a growth of 22 per cent mostly from individual loans.