HDFC Q3 Results: Mortgage lender meets analysts expectations with 13% rise in profit; NIM steady

Housing Development Finance Corp (HDFC) on Thursday reported a net profit of Rs 3,690 crore for the quarter ended December 2022, marking an increase of 13.2 per cent compared with the corresponding period a year ago.

 

Its net interest income (NII) grew 13 per cent on a year-on-year basis to Rs 4,840 crore, according to a regulatory filing.

 

According to Zee Business research, HDFC's quarterly net profit was estimated at Rs 3,680 crore and NII at Rs 4,890 crore. Its NIM was estimated to remain unchanged.

 

The mortgage lender reported a net inetrest margin (NIM) — a key measure of profitability for financial institutions — of 3.5 per cent, steady on a year-on-year basis and in line with the analysts' expectations.