Gruh Finance

The company, a subsidiary of HDFC, posted a flat set of numbers for Q4FY15 with net profit coming in at Rs.74 crore v/s Rs.73.60 crore in Q4FY14. Income rose 20% at Rs.305 crore and costs were up 24%.

Bad debt written off went up steeply in Q4 at Rs.1.73 crore v/s Rs.3 lakh in Q3 and Rs.40 lakh in Q4FY14. Provisions are up 70% (YoY) though down sharply by 96% sequentially.

It ended FY15 with a net profit at Rs.204 crore, up 15%. The company had a deferred tax on Special Reserve at Rs.20 crore; but for this, net profit would have risen 26%. It had declared a 1:1 bonus in FY14, which is why the equity capital now stands doubled at Rs.72.68 crore.

Loan assets of the company have risen from Rs.7009 crore to Rs.8915 crore, up 27% (YoY). The aggregate NPAs of the company was at 0.28% of the loans assets v/s 0.27% in previous fiscal. Net NPA continues to remain nil.