Gruh Finance Ltd. - Profit After Tax for the Period Amounted to Rs. 122.16 Crores as Compared to Rs. 102.02 Crores for the Previous Year - an Increase of 20%

AHMEDABAD, India, October 12, 2016 /PRNewswire/ --

Financial Results for the Half Year Ended September 30, 2016 

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, 2016 at their meeting held in Mumbai on October 10, 2016.

FINANCIAL RESULTS

Profit after tax for the period amounted to Rs. 122.16 crores as compared to Rs. 102.02 crores for the previous year - an increase of 20%.

Loan Portfolio 

The loan portfolio as at September 30, 2016 amounted to Rs. 12,089 crores as against Rs. 9,913 crores in the previous year - an increase of 22%.

LENDING OPERATIONS

Loan Disbursements 

Loan disbursements during the period were Rs. 1945.13 crores as against Rs. 1750.71 crores in the previous year indicating a growth of 11%.

Cumulative loan disbursements as of September 30, 2016 were Rs. 21016.83 crores.

Non-Performing Loans 

The gross NPA as at September 30, 2016 stands at Rs. 74.57 crores or 0.62% (total loan outstanding portfolio of Rs. 12,089 crores). The Net NPA as at September 30, 2016 stands at Rs. 35.59 crores indicating Net NPA to loans of 0.29%.

DEPOSITS 

GRUH's deposit portfolio has increased to Rs. 1455.60 crores, up from Rs. 1328.70 crores as at September 30, 2015 indicating a growth of 10%. GRUH's Fixed Deposit programme is rated "AAA" by CRISIL and ICRA. The rating of "AAA" indicates that the degree of safety regarding timely payment of interest and principle 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 year, CRISIL upgraded GRUH's rating on its Long Term Debt and Sub Ordinate Debt programmes from "AA+ (positive)" to "AAA (stable)." Now GRUH's Long Term Debt and Subordinate Debt Programme are rated AAA by both rating agencies viz. CRISIL and ICRA.

RETAIL NETWORK 

GRUH has a network of 180 retail offices across 10 states of the country. GRUH has 47 offices in Gujarat, 49 offices in Maharashtra, 17 offices in Karnataka, 28 offices in Madhya Pradesh, 12 offices in Rajasthan, 12 offices in Chhattisgarh, 10 offices in Tamil Nadu, 3 offices in Uttar Pradesh and one each in Jharkhand and Bihar. For more information, visit: www.gruh.com

Highlights of Operational Performance

(Rs. in crore)

   
    Detail               Sept 30, 2016 Sept 30, 2015 Growth (%)
    Net Interest Margin  234           195           20
    Non Interest
    Expenses             45            41            10
    Operating Profit     204           172           18
    Profit After Tax     122           102           20
    Disbursements        1945          1751          11
    Loan Assets          12089         9913          22

Media Contact:
Pritesh Trivedi
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Manager - PR
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