HDFC retail loan demand at 8-year high, standalone net profit rises 18%

Shifted from quarterly reset for individual loans to monthly one

Mortgage financier HDFC reported an 18 per cent year-on-year (YoY) jump in standalone net profit in July-September (Q2FY23) quarter, aided by healthy interest income and slightly higher dividend income, and retail loan sales, which hit an 8-year high of 36 per cent. 

The financer reported a profit after tax of Rs 4,454.24 crore in the quarter under review, beating street estimates, as analysts at Bloomberg had predicted a profit of Rs 4,277 crore. 

Net interest income (NII) of the lender grew 13 per cent YoY to Rs 4,639.25 crore, on the back of healthy credit growth. Net interest margin (NIM),