Mortgage lender HDFC Ltd on Thursday posted a 20% year-on-year growth in standalone net profit in the March quarter to ₹4,425 crore, on the back of higher income. The company’s total operating revenue surged 36% from a year ago to ₹16,679 crore.
On Thursday, the lender said monetary policy and interest rate actions throughout the year impacted its net interest income. It said while lending rates increased, a transmission lag occurred between the rise in borrowing costs and asset repricing.
The NII for the quarter ended 31 March stood at ₹5,321 crore compared to ₹4,601 crore in the year ago, up 16%. Its reported NIM for the financial year was at 3.6%.
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