HDFC Ltd Q4FY23 PAT up 18.04% yoy at Rs7,624 crore on 24% growth in individual loan book
HDFC Ltd reported 27.4% growth in total revenues for the March 2023 quarter on consolidated basis at Rs44,634cr. On a sequential basis, the revenues were up 8.32%. The assets under management of the company at close of March 2023 stood at Rs7.20 trillion while individual loan book of HDFC expanded by a whopping 24% even on a high base. The company reported net interest margins (NIMs) at 3.6% and spreads at 2.29%.
Overall loan disbursements were up 16% in the year with 94% of fresh loan applications received through the digital channels. The company also declared an interim dividend of Rs44 per share. The average loan size of the individual book was up nearly 10% yoy at Rs36.20 lakhs. Individual loans comprised nearly 83% of the overall loan book of HDFC.
Financial highlights for Mar-23 compared yoy and sequentially
| HDFC Ltd | |||||
Rs in Crore | Mar-23 | Mar-22 | YOY | Dec-22 | QOQ |
| Total Income (Rs cr) | ₹ 44,634 | ₹ 35,047 | 27.36% | ₹ 41,206 | 8.32% |
| Operating Profit (Rs cr) | ₹ 6,326 | ₹ 5,608 | 12.80% | ₹ 5,013 | 26.19% |
| Net Profit (Rs cr) | ₹ 7,624 | ₹ 6,459 | 18.04% | ₹ 6,675 | 14.21% |
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| Diluted EPS (Rs) | ₹ 41.38 | ₹ 35.42 |
| ₹ 36.22 |
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| OPM | 14.17% | 16.00% |
| 12.17% |
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| Net Margins | 17.08% | 18.43% |
| 16.20% |
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The company did see its operating margins and net margins taper on a yoy basis, but that was due to operating costs, especially finance costs were up more than 50% yoy. On a consolidated business basis, the revenues from life insurance is bigger than the loan revenues. However, in terms of operating profit generation, the loan book still generates 80% of the operating profits in the latest year.