HDB Financial Services Reports 34% Rise in Q2 Net Profit
· Business · Economic Times, LiveMint
HDB Financial Services reported a 34% year-on-year increase in net profit to Rs 780 crore for the second quarter of FY27, driven by higher net interest income, loan growth, and lower credit costs. Net interest income rose 15.6% year on year to Rs 2,534 crore, while total net income increased 14% to Rs 2,891 crore. Managing Director and CEO Ramesh Ganesan noted that festive demand is expected to boost consumer finance, with the company utilizing artificial intelligence to accelerate customer onboarding. Net interest margin widened to 8.23% from 7.95% a year earlier, and the gross loan book grew 12% to Rs 1.24 lakh crore. The lender declared an interim dividend of Rs 2 per share.
Why it matters
The strong quarterly performance reflects robust loan growth and improving margins for the HDFC Bank-promoted non-banking financial company.
Read the original report — Economic Times
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