HDFC

Housing Finance Company HDFC Ltd recorded a standalone profit of Rs 2,113.80 crores during the quarter ended December 2018. During the same period a year ago, the company's profit was at Rs 5,300 crore. However, HDFC said in a statement that the results of the third quarter of the current financial year cannot be compared with the quarter ended December 31, 2017.

Total Income of Rs 10,569 crore

HDFC said that the company had sold shares of HDFC Life Insurance Company of about Rs 5,250 crore through an initial public offer (IPO) during the quarter ending December 31, 2017. However, in terms of gross income, it was Rs 10,569 crore during the quarter ending December 2018, compared to Rs 8,824 crore in the same period a year ago.


Gross NPA remained 1.22 percent

According to the National Housing Bank norms, during the quarter, the company's gross non-performing assets (NPA) was about 1.22 percent as compared to the total assets (Rs 4,731 crore). HDFC Ltd said that Capital Adequacy Ratio stood at 18.9 percent, out of which Tier-1 Capital was 17.2 percent and Tier-II Capital was 1.7 percent.

The company said that according to Regulatory Norms, the minimum requirement of Capital Adequacy Ratio and Tier 1 Capital is 12% and 6% respectively. During the nine months of the financial year 2018-19, during the nine months of the year 2018-19, the company's profit before tax was Rs 6,771 crore before the other Comprehensive Income, compared to Rs 8,703 crore during the same period a year ago.

On the other hand, the board has also approved the appointment of Irina Vittal as an independent director for a period of 5 years. This decision will be considered effective from January 30, 2019.