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Major loan HDFC on Wednesday reported an 11% increase in its Q3FY22 standalone net income on a yearly basis.

Its profit after tax rose to Rs 3,261 crore from Rs 2,926 crore in the corresponding quarter of the previous year.

Additionally, the Company’s net interest income (NII) for the quarter ended 31 December 2021 increased to Rs 4,284 crore from Rs 4,005 crore the previous year.

In terms of consolidated results, the Company’s after-tax profit attributable to it increased to Rs 5,837 crore from Rs 5,177 crore the previous year.

The lender said that at the end of December 31, 2021, loans restructured under the RBI’s resolution framework for “Covid-19 stress” amounted to 1.34% of the loan portfolio.

“In December 2021, the Company recorded its second highest monthly individual disbursements ever. This despite the fact that the previous year involved concessional stamp duty benefits in some states, which was not the case for the current year,” he said.

“Home loan demand and the loan application pipeline remain strong. Home loan growth has been seen in both the affordable housing segment as well as high-end properties. new projects bode well for the housing sector,” he said.

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