“As of date, individual loans under moratorium 2 accounted for 16.6% of the individual loan portfolio. 22.4% of the Corporation’s total loans under management have opted for moratorium 2,” HDFC said in a regulatory filing. As revealed on Thursday the mortgage lender said that its net profit fell 4.7 per cent to Rs 3,052 crore in the June quarter, as compared with Rs 3,203 crore in the same quarter last year. The profit came in much higher than a Rs 2,495 crore estimate that analysts had made in an ET Now poll. The HFC made a total of Rs 4,452 crore in provisions for the June quarter. The Net Interest Margin (NIM) was 3.1%, compared with 3.3% in the corresponding quarter last year.
COVID-19 provisions were made at Rs 1,199 Cr during the quarter, with revenue rising 0.2% at Rs 13,017.7 crore as against Rs12,990.3 crore in June 2019. This year’s net interest income for the June quarter stood at Rs 3,392 crore in contrast to last year’s Rs 3,079 crore, which indicated a rise of 10 per cent. At 2:17 pm, the HDFC scrip on BSE was trading 2.2% lower at Rs 1,836.

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