GRUH Finance Ltd. - Profit After Tax for the Period Amounted to Rs. 232.17 Crores as Compared to Rs. 186.20 Crores for the Previous Year, an Increase of 25%

AHMEDABAD, India, January 22, 2018 /PRNewswire/ --

GRUH Finance Ltd. - Financial Results For The Quarter Ended December 31, 2017

The Board of Directors of GRUH Finance Ltd. (GRUH) - a subsidiary of HDFC Ltd. - has approved the accounts for the quarter ended December 31, 2017 at their meeting held in Mumbai on January 20, 2018.

Financial Results 

Profit after tax for the period amounted to Rs. 232.17 crores as compared to Rs. 186.20 crores for the previous year, an increase of 25%.

Loan Portfolio  

The loan portfolio as on December 31, 2017 amounted to Rs. 14,803 crores as against Rs. 12,534 crores in the previous year, an increase of 18%.

Lending Operations 

1. Loan Disbursements 

Loan disbursements during the period were Rs. 3,748 crores as against Rs. 2,870 crores in the previous year indicating a growth of 31%.

Cumulative loan disbursements as of December 31, 2017 were Rs. 26,945 crores.

2. Non-Performing Loans 

The Gross NPAs of the Company at Rs. 108.18 crores is 0.73% of the Loan Assets as against 0.67% of the Loan Assets as on September 30, 2017.

GRUH carries a provision of Rs. 23.96 crores on its NPA portfolio of Rs. 108.18 crores as on December 31, 2017. GRUH also carries a provision of Rs. 65.77 crores on its standard assets. Additionally, it carries an additional provision for contingencies of Rs. 84.22 crores.

As a result, the Net NPA as on December 31, 2017 stands at Rs. NIL indicating Net NPA to loans of NIL.

3. Deposits 

GRUH's deposit portfolio is Rs. 1,402 crores, down from Rs. 1,503 crores last year. GRUH's Fixed Deposit programme has been rated "FAAA" by CRISIL and "MAAA" by ICRA. The rating of "FAAA" and "MAAA" indicates 'Highest Safety' in regards to repayment of interest and principal. GRUH's Commercial Paper (CP) is rated at "A1(+)" by ICRA and CRISIL and Non- Convertible Debenture (NCD) is rated at "AAA" by ICRA and CRISIL.

About GRUH Finance Ltd.:

GRUH has a network of 192 retail offices across 11 states of the country. GRUH has 48 offices in Gujarat, 51 offices in Maharashtra, 17 offices in Karnataka, 30 offices in Madhya Pradesh, 13 offices in Rajasthan, 12 offices in Chhattisgarh, 12 offices in Tamil Nadu, 5 in Uttar Pradesh, one office each in Bihar and Jharkhand and two in West Bengal.

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

Media Contact:
Pritesh Trivedi
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