HDFC -RESULTS - Q3 FY 2012-13 - Q E DEC 2012 - CONSOLIDATED NET PROFIT UP 27.55% YOY

HOUSING DEVELOPMENT FINANCE CORPORATION

RESULTS FOR Q3 FY 2013

Q/E DEC, 2012

CONSOLIDATED RESULTS

Income from Operations in Q3 FY 13 stands at Rs.5538.35 Cr; compared to Rs.4647.99 in Q3 FY 12; and Rs.5423.52 Cr in Q2 FY 13.

Total income   in Q3 FY 13 stands at Rs.10128.58 Cr; compared to Rs.6379.96 Cr in Q3 FY 12; and Rs.10449.55 Cr in Q2 FY 13.

Total Expenses              in Q3 FY 13 stands at Rs.8315.89 Cr; compared to Rs.4963.25 Cr    in Q3 FY 12; and Rs.8684.53 Cr in Q2 FY 13.

Profit  from operations            in Q3 FY 13 stands at Rs.1812.69 Cr; compared to Rs.1416.71 Cr    in Q3 FY 12; and Rs.1765.02 Cr in Q2 FY 13.

Finance costs  in Q3 FY 13 stands at Rs.469.28   Cr; compared to Rs.391.87 Cr      in Q3 FY 12; and Rs.461.29 Cr in Q2 FY 13.

Profit before tax           in Q3 FY 13 stands at Rs.1823.48 Cr; compared to Rs.1442.67 Cr    in Q3 FY 12; and Rs.1777.55 Cr in Q2 FY 13.

Tax expense    in Q3 FY 13 stands at Rs.469.28   Cr; compared to Rs.391.87 Cr      in Q3 FY 12; and Rs.461.29 Cr in Q2 FY 13.

Net Profit         in Q3 FY 13 stands at Rs.1354.2   Cr; compared to Rs.1050.8 Cr in Q3 FY 12; and Rs.1316.26

Share of profit / (loss) of associates in Q3 FY 13 stands at Rs.432.94   Cr; compared to Rs.332.75 Cr; in Q3 FY 12; and Rs.363.51 Cr in Q2 FY 13.

Minority interest          in Q3 FY 13 stands at Rs.-81.31    Cr; compared to Rs.-46.17 Cr; compared to Rs.-104.87 Cr in Q2 FY 13.

Net Profit after taxes, minority interest and share of profit / (loss) of associates  in Q3 FY 13 stands at Rs.1705.83     Cr; compared to Rs.1337.38  Cr in Q3 FY 12; and Rs.1574.9 Cr in Q2 FY 13.

Face Value  stands at Rs.2; Paid-up equity share capital         stands at Rs.308.2 Cr.

Basic EPS in Q3 FY 13 stands at Rs.11.1; compared to Rs.9.07 in Q3 FY 12; and Rs.10.39  in Q2 FY 13.

Diluted EPS      in Q3 FY 13 stands at Rs.10.94 ; compared to Rs.8.95 in Q3 FY 12; and Rs.10.32  in Q2 FY 13.

Consolidated Results Table :

HDFC-CONSOL	Q3 FY 13 (Laks)	Q3 FY12	%Dif Yoy	Q2FY13	%Dif QoQ
Income from Operations	5538.35	4647.99	19.16	5423.52	2.12
Total income	10128.58	6379.96	58.76	10449.55	-3.07
Total Expenses	8315.89	4963.25	67.55	8684.53	-4.24
Profit  from operations	1812.69	1416.71	27.95	1765.02	2.7
Finance costs	469.28	391.87	19.75	461.29	1.73
Profit before tax	1823.48	1442.67	26.4	1777.55	2.58
Tax expense	469.28	391.87	19.75	461.29	1.73
Net Profit	1354.2	1050.8	28.87	1316.26	2.88
Share of profit / (loss) of associates	432.94	332.75	30.11	363.51	19.1
Minority interest	-81.31	-46.17	76.11	-104.87	-22.47
Net Profit after taxes, minority interest and share of profit / (loss) of associates	1705.83	1337.38	27.55	1574.9	8.31
Face Value (in Rs.)	2			2	0
Paid-up equity share capital	308.2	294.83	4.53	307.78	0.14
Basic EPS	11.1	9.07	22.38	10.39	6.83
Diluted EPS	10.94	8.95	22.23	10.32	6.01

STAND ALONE RESULTS

Net Sales for Q3 FY 13 stands at Rs.5145.70 Cr; compared to Rs.5175.34 Cr in Q2 FY 13 (-0.57%); and Rs.4379.34 Cr in Q3 FY 12 (+17.5%).

Total Expenditure        for Q3 FY 13 stands at Rs.183.85 Cr; compared to Rs.187.68 Cr in Q2 FY 13 (-2.04%); and Rs.131.85 Cr in Q3 FY 12 (+39.44%).

Profit before Interest, Dep. & Taxes for Q3 FY 13 stands at Rs.4961.85 Cr; compared to Rs.4987.66 Cr in Q2 FY 13 (-0.52%); and Rs.4247.49 Cr in Q3 FY 12 (+16.82%).

Net Profit after Tax     for Q3 FY 13 stands at Rs.1140.10 Cr; compared to Rs.1151.12 Cr in Q2 FY 13 (-0.96%); and Rs.              981.25   Cr in Q3 FY 12 (+16.19%).

Employee expense      for Q3 FY 13 stands at Rs.64.20   Cr; compared to Rs.62.08 Cr in Q2 FY 13 (+3.41%); and Rs.50.80 Cr in Q3 FY 12 (+   26.38%).

Depreciation   for Q3 FY 13 stands at Rs.5.89      Cr; compared to Rs.5.61 Cr in Q2 FY 13 (+4.99%); and Rs.5.38 Cr in Q3 FY 12 (+9.48%).

Other expenses for Q3 FY 13 stands at Rs.113.76 Cr; compared to Rs.119.99 Cr in Q2 FY 13 (-5.19%); and Rs.  75.67 Cr in Q3 FY 12 (+    50.34%). Expenses have gone up significantly YoY.

Total expenses for Q3 FY 13 stands at Rs.183.85 Cr; compared to Rs.187.68 Cr in Q2 FY 13 (-2.04%); and Rs.131.85    Cr in Q3 FY 12 (+39.44%).

Profit  before tax         for Q3 FY 13 stands at Rs.1545.10 Cr; compared to Rs.1548.12       Cr in Q2 FY 13 (-0.2%); and Rs.1328.25           Cr in Q3 FY 12 (+16.33%).

Tax Expenses  for Q3 FY 13 stands at Rs.405.00 Cr; compared to Rs.397.00 Cr in Q2 FY 13 (+2.02%); and Rs.347.00 Cr in Q3 FY 12 (+16.71%).

Net Profit         for Q3 FY 13 stands at Rs.1140.10 Cr; compared to Rs.1151.12 Cr in Q2 FY 13 (-0.96%); and Rs.  981.25 Cr in Q3 FY 12 (+  16.19%). The improvement in net profit YoY is very good.

Basic EPS for Q3 FY 13 stands at Rs.7.39; compared to Rs.7.59 in Q2 FY 13; and Rs.6.65 in Q3 FY 13.

Diluted EPS for Q3 FY 13 stands at Rs.7.29; compared to Rs.7.53 in Q2 FY 13; and Rs.6.56 in Q3 FY 13.

Public Shareholding stands at 100%.    

The performance of HDFC on consolidated Basis is very good with Net profit rising by 27.55% YoY

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HDFC - Housing Development Finance Corporation - RESULTS FOR - Q2 FY 2013 - Q/E SEP,2012 - TOTAL INCOME UP BY 83%; NET PROFIT UP 21% ON CONSOLIDATED BASIS YoY - GOOS RESULTS - COMPETITION STIFF FROM BANKS

HOUSING DEVELOPMENT FINANCE CORPORATION (HDFC)

CONSOLIDATED RESULTS

FOR Q2 FY 2013 (SEP,2012)

HDFC has produced very good Consolidated results for the second quarter ending Sep, 2012.

Income from Operations for Q2 FY 2013 stands at Rs.5424 Cr; up by 23.47% from Q2 FY 12 (Rs.4393 Cr); and up by 5.88 % from Q1 FY 13 (Rs.5123 Cr). The YoY and QoQ increases are both impressive.

Total Income  for Q2 FY 2012 stands at Rs.10450 Cr; up by 83.24 % from Q2 FY 12 (Rs.5703 Cr); and up by 43.76 % from Q1 FY 13 (Rs.7269 Cr).

Ø  The premium Income from Insurance business is Rs.2971 Cr (Q2FY 12:Rs.2737 Cr; Q1 FY 13 : Rs.2007 Cr);

Ø  Other Operating Income from Insurance Business is Rs.1953 Cr (Q2 FY 12 : -Rs.1514 Cr; Q1 FY 13 : Rs.116 Cr);

Ø  Profit on sale of Investments stands at Rs.101 Cr (Q2 FY 12 : Rs.87 Cr; Q1 FY 13 : Rs.22 Cr);

TOTAL EXPENDITURE for Q2 FY 2013 stands at Rs.8685 Cr; up by 103.59 % from Q2 FY 12 (Rs.4266 Cr); and up by 48.18 % from Q1 FY 13 (Rs.5861 Cr).

Ø  Interest and other charges stands at Rs.3671 Cr (Q2 FY 12 :Rs.2767 Cr; Q1 FY 13 : rs.3449 Cr);

Ø  Other Expenses & appropriation pertaining to Insurance Business stands at Rs.3482 Cr (Q2 FY 12 : Rs.292 Cr; Q1 FY 13 : 1217 Cr);

Ø  Claims Paid pertaining to Insurance Business stands at Rs.1196 Cr ( Q2 FY 12 : Rs.926 Cr; Q1 FY 13 : Rs.882 Cr);

Operating Profit-Before Other Income for Q2 FY 2013 stands at Rs.1765 Cr; up by 22.83 % from Q2 FY 12 (Rs.1437 Cr); and up by 25.36 % from Q1 FY 13 (Rs. 1408 Cr).

Profit Before Tax for Q2 FY 2013 stands at Rs.1778 Cr; up by 18.77 % from Q2 FY 12 (Rs.1497 Cr); and up by 26.28 % from Q1 FY 13 (Rs.1408 Cr).

TAX   for Q2 FY 2013 stands at Rs.461 Cr; up by 12.17 % from Q2 FY 12 (Rs.411 Cr); and up by 7.71 % from Q1 FY 13 (Rs.428 Cr).

Net Profit for Q2 FY 2013 stands at Rs.1316  Cr; up by 21.18 % from Q2 FY 12 (Rs.1086 Cr); and up by 33.33 % from Q1 FY 13 (Rs.987 Cr).

CONSOL.PROFIT for Q2 FY 2013 stands at Rs.1575 Cr; up by 18.6 % from Q2 FY 12 (Rs.1328 Cr); and up by 23.43 % from Q1 FY 13 (Rs.1276 Cr).

EPS-BASIC for Q2 FY 2013 stands at Rs.10.39 compared to Rs.9.02 in Q2 FY 12 and Rs.8.62 in Q1 FY 13.

EPS-DILUTED for Q2 FY 2013 stands at Rs.10.32 for Q2 FY 13; compared to Rs.8.88 for Q2 FY 12; and Rs.8.5 for Q1 FY 13;

Paid Up Equity (FV:RS.2) for Q2 FY 2013 stands at Rs.307.78 Cr.

Paid Up Debt Capital for Q2 FY 2013 stands at Rs.151616 Cr; up by 18.99 % from Q2 FY 12 (Rs.127417 Cr); and up by 2.74 % from Q1 FY 13 (Rs.147569 Cr).

Consolidated Results Table

Q2  FY 2013

HDFC -CONSOLIDATED	Q2 FY13	%Dif YoY	Q2 FY12	%Dif QoQ	Q1 FY13
Income from Operations	5424	23.47	4393	5.88	5123
Total Income	10450	83.24	5703	43.76	7269
TOTAL EXPDR	8685	103.59	4266	48.18	5861
OPT-Before O'Income	1765	22.83	1437	25.36	1408
other income	13	-78.33	60	62.5	8
P B T	1778	18.77	1497	26.28	1408
TAX	461	12.17	411	7.71	428
NET PROFIT	1316	21.18	1086	33.33	987
CONSOL.PROFIT	1575	18.6	1328	23.43	1276
E P S-BASIC	10.39	15.19	9.02	20.53	8.62
EPS-DILUTED	10.32	16.22	8.88	21.41	8.5
PAID UP EQUITY (FV:RS.2)	307.78	4.53	294.44	3.38	297.73
PD UP DEBT CAPITAL	151616	18.99	127417	2.74	147569

STAND ALONE RESULTS SUMMARY

Total Income in Q2 FY 13 stands at Rs.5277 Cr compared to Rs.4169 cr in Q2 FY 12 and Rs.4942 Cr in Q1 FY 13.

Profit Before Tax in Q2 FY 13 stands at Rs.1548 cr compared to Rs.1338 cr in Q2 FY 12; and Rs.1380 cr in Q1 FY 13.

Net Profit stands at Rs.1151 Cr in Q2 FY 13; compared to Rs.971 Cr in Q2 FY 12; and Rs.1002 Cr in q1 FY 13.

Its loans to Individual borrowers rose 31%.Overall, it saw a jump of 22% to Rs.1.15 lakh crores, including loans to Builders.

Compared to Banks, which are now aggressively into Home Loans, the cost of funds for HDFC is Higher. So, it faces stiff competition from Commercial Banks. 

But, with Good Demand for Home loans, HDFC sees its loan book recording Healthy rise.

Net Interest Income has seen a rise of 18% to Rs.1653 Cr. 

Net Interest Margin for the last Half year was around 4.2%

Non-performing loans are coming down and they stand now at 0.77%.

Overall HDFC has been maintaining steady and Good Growth. 

But, Banks have started offering very good competition by cutting Home loan Rates and offering other sops to borrowers.

Future therefore will be very competitive in this field.

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