HDFC has reported net profit growth of 32.8% at Rs 891 crore as against Rs 671.3 crore, for the third quarter ended December 2010. Its Net interest income (NII) rose 25.6% to Rs 1,328 crore from Rs 1,058 crore, during the period under review. Its net interest margins (NIMs) was at under 4% while spreads for 9-month period stood at 2.33%.
The housing finance company managed to lower its non-performing assets (NPAs) as it declined to 0.85% from 0.94%. Its loan book grew 27%. It earned profit of Rs 167 crore from sale of investment as against Rs 51 crore. HDFC’s tier I capital stood at 13%, tier II capital at 1.1% and capital adequacy was at 14.1%.
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