GRUH Finance Ltd. - Financial Results for the Half Year Ended September 30, 2017

AHMEDABAD, India, October 16, 2017 /PRNewswire/ --

Profit After Tax for the Period Amounted to Rs. 150.01 Crores as Compared to Rs. 122.16 Crores for the Previous Year - an Increase of 23%

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, 2017 at their meeting held in Mumbai on October 14, 2017.

FINANCIAL RESULTS

Profit after tax for the period amounted to Rs. 150.01 crores as compared to Rs. 122.16 crores for the previous year - an increase of 23%.

Loan Portfolio 

The loan portfolio as at September 30, 2017 amounted to Rs. 14,304 crores as against Rs. 12,089 crores in the previous year - an increase of 18%.

LENDING OPERATIONS

Loan Disbursements 

Loan disbursements during the period were Rs. 2,483 crores as against Rs. 1,945 crores in the previous year indicating a growth of 28%.

Cumulative loan disbursements as of September 30, 2017 were Rs. 25,680 crores.

Non-Performing Loans 

The gross NPA as at September 30, 2017 stands at Rs 95.55 crores or 0.67% (total loan outstanding portfolio of Rs. 14,304 crores).

GRUH carries a provision of Rs. 23.96 crores in its Balance Sheet as at September 30, 2017 on its NPA portfolio. GRUH also carries a provision of Rs. 65.56 crores on its standard assets. Additionally, GRUH carries an additional provision for contingencies of Rs. 61.60 crores.

As a result, the Net NPA as at September 30, 2017 stands at Rs. 10.00 crores indicating Net NPA to loans of 0.07%.

DEPOSITS  

GRUH's deposit portfolio has decreased to Rs. 1,425 crores, from Rs. 1,456 crores as at September 30, 2016. 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 S=strong.

GRUH's Short Term borrowings including Commercial Paper (CP) and short term NCD's is rated "A1(+)" by CRISIL and ICRA and GRUH's Long Term Debt and Sub Ordinate Debt programmes are rated AAA by both rating agencies viz. CRISIL and ICRA.

RETAIL NETWORK  

GRUH has a network of 187 retail offices across 11 states of the country. GRUH has 48 offices in Gujarat, 50 offices in Maharashtra, 17 offices in Karnataka, 29 offices in Madhya Pradesh, 13 offices in Rajasthan, 12 offices in Chhattisgarh, 10 offices in Tamil Nadu, 4 offices in Uttar Pradesh, 2 offices in W Bengal and one each in Jharkhand and Bihar.

For more information, visit: http://www.gruh.com  

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Pritesh Trivedi
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