Gruh Finance Limited - Profit After Tax for the Period Amounted to Rs. 102.02 Crores as Compared to Rs. 85.00 Crores for the Previous Year - An Increase of 20%

AHMEDABAD, India, October 19, 2015 /PRNewswire/ --

Gruh Finance Limited: Financial Results For The Half Year Ended September 30, 2015 

The Board of Directors of Gruh Finance Ltd. (GRUH) - a subsidiary of HDFC Ltd. - has approved the accounts for the half year ended September 30, 2015 at their meeting held in Mumbai on October 19, 2015.

Financial Results

Profit after tax for the period amounted to Rs. 102.02 crores as compared to Rs. 85.00 crores for the previous year - an increase of 20% .

Loan Portfolio 

The loan portfolio as at September 30, 2015 amounted to Rs. 9912.99 crores as against Rs. 7920.35 crores in the previous year - an increase of 25%.

Lending Operations

Loan Disbursements 

Loan disbursements during the period were Rs. 1750.71 crores as against Rs. 1503.15 crores in the previous year indicating a growth of 16%.

Cumulative loan disbursements as of September 30, 2015 were Rs. 16965.83 crores.

Non-Performing Loans 

The gross NPA as at September 30, 2015 stands at Rs 57.87 crores or 0.58% (total loan outstanding portfolio of Rs. 9912.99 crores). The Net NPA as at September 30, 2015 stands at Rs. 19.62 indicating Net NPA to loans of 0.20%.

Deposits

Gruh's deposit portfolio has increased to Rs. 1328.70 crores, up from Rs. 1186.46 crores as at September 30, 2014 indicating a growth of 12%. GRUH's Fixed Deposit programme is rated "AAA" by CRISIL and ICRA. The rating of "AAA" indicates that the degree of safety of repayment and principal is Very Strong.

Gruh's Short Term borrowings including Commercial Paper (CP) and short term NCD's is rated "A1(+)" by CRISIL and ICRA.

During the quarter, ICRA upgraded Gruh's rating on its Long Term Debt and Sub Ordinate Debt programmes from "AA+" to "AAA".

Retail Network 

Gruh has a network of 171 retail offices across 8 states of the country. Gruh has 46 offices in Gujarat, 48 offices in Maharashtra, 17 offices in Karnataka, 24 offices in Madhya Pradesh, 12 offices in Rajasthan, 13 offices in Chhatisgarh, 10 offices in Tamil Nadu and 1 office in Uttar Pradesh.

Highlights of Operational Performance

(Rs. in crore)

   
    Detail               Sept 30, 2015 Sept 30, 2014  Growth (%)
    Net Interest Margin     194.92        159.52        22.19
    Non Interest
    Expenses                 40.88         33.78        21.03
    Operating Profit        172.48        142.47        21.06
    Profit After Tax        102.02         85.00        20.02
    Disbursements          1750.71       1503.15        16.47
    Loan Assets            9912.99       7920.35        25.16

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Pritesh Trivedi
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