Q1FY23 Financial Results
FINANCIALS - Q1FY23
•
Q1FY23 entailed a volatile environment
•
•
HDFC
WITH YOU, RIGHT THROUGH
The monetary policy and interest rate actions have had a short-term impact on the net
interest income and to a slightly lesser extent on the net interest margin.
• This has been due to the transmission lag between the interest rate increase in
borrowing costs and the increase in lending rates
•
Benchmark lending rates have been increased; incremental individual loans have
shifted to a monthly reset (previously quarterly) to reduce the transmission impact
On account of volatile equity markets, the net gain on investments fair valued through
the profit and loss account stood at Rs 0.08 bn (PY: Rs 4.02 bn)
Dividend income was higher at Rs 6.87 bn (PY: Rs 0.16 bn)
• Profit on Sale of Investments: Rs 1.84 bn (PY: Rs 2.63 bn)
.
• Non-interest expense ratios were higher due to an increase in upfront expenses on
staffing, branch expansion and information technology -- benefits to accrue over the
ensuing quarters.
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