Leading non banking financial company HDB Financial Services has announced its results for the quarter ending June 30, 2022 on July 16, 2022.

The company was able to clock a total income from its operation of Rs. 2980.2 crore which is an increase of 5.89% compared to Rs 2814.4 crore in the same period previous year.

The company has reported an increase in net profit by almost 4 times to Rs. 441.3 crore from Rs. 86.6 crore compared to the same quarter previous year . However, there is a marginal increase of 3.34 percent in net profit to 441.3 crore from 427 crore compared to the previous quarter. 

Talking about provisions, the company has reported an astounding drop by 54.19 percent from Rs. 869.6 crore quarter ended on 30 June, 2021 to Rs. 398.3 crore quarter ended on 30 June 2022 and 5.57 percent drop compared to the previous quarter which is good for a company. This shows that the NPAs of HDB Financial Unlisted Share are getting reduced and the company is on the path of profitability. 

In the financial year 2021-22, the board has decided a final dividend of Rs 1 per equity share. HDB financial services limited is one of the subsidiaries of HDFC Bank. It is fully owned by HDFC Bank with 95 percent stake. The major sources of income for the company are interest from lending business and BPO services. 

HDB financial services limited was incorporated in 2007, which offers a wide range of secured and unsecured loans to customers and BPO services. As of now, it has more than 1300 branches across 24 states and 3 union territories. It has a digital platform which enables its customers to have easy access to its products and services. 

Financial Results Discussion of HDB Financials Q1FY23 (Fig. in Crores)