HDB Financial Services Limited has announced its financial results quarter and nine months ended December 31, 2022.

During the first nine months ended for FY23, the Company's net profit grew 142% to Rs. 1413 crore compared to Rs. 584 crore for the same period previous financial year. As per the results, for the quarter ended December 31, 2022, the total revenue of the Company has increased 3% to Rs. 3154 crore as against Rs. 3047 crore in the previous quarter while the total revenue of the Company, for nine months ended December 31, 2022, has increased 9% to Rs. 9182 crore as against Rs. 8389 crore for the same period previous financial year.

For the quarter ended December 31, 2022, the total expenses of the Company have increased 2% to Rs. 2463 crore as against Rs. 2416 crore in the previous quarter.

For the nine months ended December 31, 2022, the Company has cut down its expenses by 4% to Rs. 7286 crore as against Rs. 7617 crore for the same period previous year.

For the quarter ended December 31, profit before tax of the Company has increased 6% to Rs. 671 crore as against Rs. 631 crore in the previous quarter.

For nine months ended December 31, 2022, the profit before tax of the Company increased 145% to Rs. 1894 crore as against Rs. 772 crore for the same period previous financial year. For the quarter ended December 31, the net profit of the Company increased 6% to Rs. 501 crore as against Rs. 471 crore in the previous quarter.

For the nine months ended December 31, 2022, the net profit of the Company increased record 142% to Rs. 1413 crore as against Rs. 584 crore for the same period previous financial year.

In 2007, HDB financial services limited was established, and since then it has been providing consumers with a variety of secured and unsecured loans in addition to business process outsourcing (BPO) services. At the present time, it has about 1300 locations spread across 24 states and 3 union territories. Because it operates on a digital platform, it gives its clients quick and simple access to all of the goods and services it offers. Even though the majority of businesses were negatively affected by the epidemic, this company still managed to do better than most of them, and it is now on track to become profitable. HDB Financial Services is now the most successful non-banking financial enterprise in the sector, and the company is planning to launch its initial public offering (IPO) in the not too distant future.

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