HDB Financial Services Posts 34 Percent Profit Rise
Indian non-bank lender HDB Financial Services posted a 34.2 percent rise in second-quarter net profit to 7.8 billion rupees. The growth was supported by improved loan demand and lower provisions, alongside an 11.6 percent increase in assets under management.
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HDB Financial Services Ltd posted a 34.2% rise in second-quarter profit on Wednesday morning, reaching 7.8 billion rupees ($81.98 million) on robust loan demand. The non-bank lender compared favorably against the 5.81 billion rupees recorded in the same period of the previous year in India. The earnings expansion highlights resilient consumer credit demand despite tighter underwriting standards across stressed retail portfolios.
