Gruh Finance Ltd.- Profit After Tax for the Year Amounted to Rs. 155.76 Crores as Compared to Rs. 129.74 Crores for the Previous Year, an Increase of 20%

AHMEDABAD, India, January 15, 2016 /PRNewswire/ --

Gruh Finance Ltd: Financial Results for the Quarter Ended December 31, 2015 

The Board of Directors of Gruh Finance Ltd. - a subsidiary of HDFC Ltd. - has approved the accounts for the quarter ended December 31, 2015 at their meeting held in Mumbai on January 15, 2016.

FINANCIAL RESULTS

Profit after tax for the year amounted to Rs. 155.76 crores as compared to Rs. 129.74 crores for the previous year, an increase of 20%.

Loan Portfolio 

The loan portfolio as at December 31, 2015 amounted to Rs. 10519.36 crores as against Rs. 8392.88 crores in the previous year - an increase of 25%.

LENDING OPERATIONS

Loan Disbursements 

Loan disbursements during the year were Rs. 2773.91 crores as against Rs. 2248.40 crores in the previous year indicating a growth of 23%.

Cumulative loan disbursements as of December 31, 2015 were Rs. 17989.03 crores.

Non-Performing Loans 

The gross NPA as at December 31, 2015 stands at Rs 65.42 crores or 0.62% (total loan outstanding portfolio of Rs. 10519.36 crores).

Gruh is required to carry a provision of Rs. 15.67 crore on its Gross NPA portfolio of Rs. 65.42 crore as on December 31, 2015 and Rs. 47.23 crores towards standard assets i.e. a total provision of Rs. 62.90 crore.

However, as a prudent measure, Gruh has made more than the required provision in its books. The total provision carried in the books including the provision for standard assets is Rs. 97.87 crore. As a result, the Net NPA as at December 31, 2015 stands at Rs. 14.78 crore indicating Net NPA to loans of 0.14%.

DEPOSITS 

Gruh's deposit portfolio has increased to Rs. 1389.38 crores, up from Rs. 1281.12 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" as regards repayment of interest and principal. Gruh's Commercial Paper (CP) is rated at "A1(+)" by ICRA and Non Convertible Debenture (NCD) is rated at "AAA" by ICRA.

RETAIL NETWORK 

Gruh has a network of 175 retail offices across 10 states of the country. Gruh has 46 offices in Gujarat, 48 offices in Maharashtra, 17 offices in Karnataka, 25 offices in Madhya Pradesh, 12 offices in Rajasthan, 13 offices in Chhatisgarh, 10 offices in Tamil Nadu, 2 in Uttar Pradesh and one office each in Bihar and Jharkhand. www.gruh.com

Highlights of Operational Performance

(Rs. in crore)

    
                          December 31,    December 31,
    Detail                    2015            2014        Growth (%)
    Net Interest Margin      303.90          247.53           23
    Non Interest
    Expenses                  60.22           48.09           25
    Operating Profit         271.48          223.19           22
    Profit Before Tax        236.92          195.95           21
    Profit After Tax         155.76          129.74           20
    Disbursements           2773.91         2248.40           23

Media Contact 
Pritesh Trivedi
[email protected]
91-9727260309
Manager-PR
One Advertising & Communication Services Ltd.