Gruh Finance, a
subsidiary of HDFC, has reported a 30% rise in PAT (profit-after-tax) in the
quarter ended June 30, 2012, compared to the corresponding period in the last
financial year.
While the
company’s PAT was Rs. 26.72 crore (Rs. 20.55 crore), its loan disbursement was
Rs. 440.64 crore (Rs. 321.56 crore), a growth of 37%.
Cumulative loan
disbursements as of June 30, 2012 were Rs. 7,783 crore. Gross NPAs stood at Rs.
29.73 crore or 0.68% (total loan outstanding portfolio of Rs 4,350 crore).
An additional
provision for contingencies of Rs. 4.94 crore has been made for the NPAs during
the quarter. As a result, net NPAs as of June 30, 2012 were Rs 3.68 crore,
indicating net NPAs to loans of 0.08%.
Deposits
portfolio has increased to Rs. 528.37 crore (Rs. 282.94 crore). The Gruh
Finance has a network of about 125 offices across 7 states.
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