HDFC had posted a consolidated profit of Rs 1,275.86 crore in the corresponding period last year. (Agencies)
"The main feature of the quarter was really the growth in individual loans. We had a really healthy loan growth," said Keki M Mistry, vice chairman and CEO, HDFC.
A 31 percent growth in the individual loan book helped the total assets grow to Rs 1,76,993 crore as of June 30, up from Rs 1,48,262 crore a year ago.
HDFC's net interest income (NII) grew 17 percent to Rs 1,794 crore in the first quarter while the net interest margin for the quarter ended June 30, 2013, was 3.9 percent, he said.
The spread on loans over the cost of borrowing for the quarter ended June 30 stood at 2.29 percent.
HDFC's gross non-performing loans stood at 0.77 percent of the loan portfolio as of June 30 as compared with 0.79 per cent in the same quarter last year.
It set aside Rs 1,801 crore in the first quarter as provisions against the Rs 1,326 crore a year ago.
"The provision we carry today is Rs 475 crore higher than what is required to be held," Mistry said.
The housing finance major's total income stood at Rs 8,474.84 crore in the quarter ended Jun 30 as against Rs 7,380.79 crore year ago.
The total expenditure in the Apr-Jun period was Rs 6,554.91 crore, compared to Rs 5,972.82 crore in the year ago quarter.
On the recent measures announced by the Reserve Bank to stem rupee's fall, Mistry said that the steps are unlikely to remain for a long time, and added that the steps have not impacted its liquidity condition.
"We have always kept extra liquidity in our balance sheet. We have no plan to borrow from the market in July," Mistry said.
Mistry said that HDFC plans to raise USD 500 million from external commercial borrowing and has applied for the same.
Shares of the company lost 2.35 percent to end the day at Rs 803.50 apiece on the BSE.
HDFC had posted a consolidated profit of Rs 1,275.86 crore in the corresponding period last year.