HDFC says net interest margin for March quarter at 4.21 percent

Last Updated: Wed, May 08, 2013 09:35 hrs
A man uses an electronic machine to check an Indian currency note in Siliguri

MUMBAI (Reuters) - Housing Development Finance Corp (HDFC) , India's biggest mortgage lender, said its net interest margin for the year ending March 31 stood at 4.21 percent, a marginal fall compared with 4.4 percent a year ago.

The company's net interest margin for the Jan-March quarter also stood at 4.21 percent, Keki Mistry, chief executive officer at HDFC, said in a televised press conference on Wednesday.

Gross non-performing assets for the Jan-March quarter stood at 70 basis points and HDFC expects loan spreads to be between 2.2 to 2.25 percent going forward, said Mistry.

Earlier in the day, HDFC reported a 17.3 percent rise in net profit for the Jan-March quarter to 15.55 billion Indian rupees, helped by higher disbursals.

(Reporting by Aditi Shah; Editing by Sunil Nair)

More from Sify: