Wednesday, October 22, 2014

BWI: The Lenovo RocStar- For the Music Lovers Who are Constantly on the Go!

 
Source : Lenovo
Wednesday, October 22, 2014 7:32PM IST (2:02PM GMT)
 
The Lenovo RocStar- For the Music Lovers Who are Constantly on the Go!
An ultra-portable smartphone for the music lover in you
 
Bangalore, Karnataka, India

To spice up this festive season, Lenovo (HKSE: 992) (ADR: LNVGY) today launched the Lenovo RocStar – a new music smartphone addition to its popular A series smartphones. The Lenovo RocStar comes with Dolby® Digital Plus to ensure crystal clear audio and an uncompromised music listening experience. It further packs-a-punch with the superior quality earphones that offers better quality sound than standard in-box earphones.
 

What’s hot in the Lenovo RocStar!
  1. Dolby® Digital Plus audio enhancements for quality music experience
  2. Superior quality earphones included in-box
  3. Guvera Music App- Access to over 10 million songs
  4. Up to 10 hours of uninterrupted music listening without charging
  5. Share music and other files easily with SHAREit
 

Powered by a 1.3 GHz Dual Core processor, the Lenovo RocStar offers consumers powerful and smooth performance for all their social networking needs. It also comes with a 4GB of built-in storage, which can be further expanded via microSD card (up to 32GB) that lets you store huge music libraries. The smartphone sports a 5-megapixel fixed focus rear camera with flash and a 2-megapixel front camera that offer quality picture capturing experience.
 
The device sports a 10.16 cms (4) FWVGA (800x480 pixels) display which is ideal to enjoy watching photos, videos and games, and comes with the most up-to-date Android apps and KitKat 4.4. The Lenovo RocStar is also dual SIM compatible and is powered by a 1500mAh battery that lets you enjoy up to 10 straight hours of music without charging your device.
 
The Lenovo RocStar also comes bundled with the Guvera music app that lets you search instantly from over 10 million songs with unlimited streaming and create playlists that you can share with your friends.
 
In addition, the proprietary Lenovo DOit apps, like the award-winning SHAREit lets you share music and other files easily with your friends.  The SYNCit apps helps one back up and restore all contacts, SMS messages and call logs conveniently, while SECUREit optimizes the device’s performance and protects it against viruses, spam and malware.
 
Priced at INR 6499 the Lenovo RocStar will be available in black, white and red colour variants. It will be available at thedostore.com, across 1,400 Lenovo exclusive stores and all leading telecom outlets from today.
 
Photo Caption: RocStar

 
Media Contact Details

Prasad Karat, MSLGROUP India , ,+91-9986486542 , prasad.karat@mslgroup.com

 

KEYWORDS: Business/ Finance:Advertising, PR & marketing, Business Services, Consumer Electronics, Information Technology, Manufacturing Companies, Media & Entertainment, Technology, Telecommunications;General:Consumer interest, Entertainment, Internet, Lifestyle, People

 

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BWI: Mahindra Finance Announces Audited Financial Results for the Quarter and Half Year Ended 30th September, 2014

 
Source : Mahindra & Mahindra Financial Services Limited
Wednesday, October 22, 2014 5:12PM IST (11:42AM GMT)
 
(BSE:532720)
Mahindra Finance Announces Audited Financial Results for the Quarter and Half Year Ended 30th September, 2014
 
Mumbai, Maharashtra, India

  • F-2015 Q2 Income up by 14%
  • F-2015 Q2 PAT down by 6%

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets, announced today, the audited financial results for the quarter and half year ended 30th September, 2014.
 
F-2015 Q2 Consolidated Results

The Total Income increased by 14% at Rs.1475 crores during the quarter ended 30th September, 2014 as against Rs.1291 crores in the corresponding period last year. The Profit After Tax (PAT) declined by 6% to Rs.219 crores during the quarter ended 30th September, 2014 as against Rs.232 crores during the corresponding period last year.
 
F-2015 Q2 Standalone Results

The Total Income increased by 13% at Rs.1369 crores during the quarter ended 30th September, 2014 as against Rs.1213 crores in the corresponding period last year. The Profit After Tax (PAT) declined by 6% to Rs.207 crores during the quarter ended 30th September, 2014 as against Rs.221 crores during the corresponding period last year.
 
F-2015 H1 Consolidated Results

The Total Income increased by 16% at Rs.2859 crores during the half year ended 30th September, 2014 as against Rs.2461 crores in the corresponding period last year. The Profit After Tax (PAT) declined by 11% to Rs.389 crores during the half year ended 30th September, 2014 as against Rs.436 crores during the corresponding period last year.
 
F-2015 H1 Standalone Results

The Total Income increased by 15% at Rs.2652 crores during the half year ended 30th September, 2014 as against Rs.2311 crores in the corresponding period last year. The Profit After Tax (PAT) declined by 12% to Rs.362 crores during the half year ended 30th September, 2014 as against Rs.412 crores during the corresponding period last year.
 
Operations

The rural sentiments continue to remain low in view of the delayed monsoons. Floods in some parts of the country and below normal rainfalls in some geographies have impacted the sentiments and economic activities during the quarter. The customers’ cash flows continue to be under pressure resulting, both in poor off-take of vehicles, tractors and repayment of loans.
 
With the increased number of branches and trained employees, we have been able to improve our performance in the second quarter in spite of weak market conditions. During the quarter the measures taken for improving collections have worked well and there have been reasonable improvements in the Non Performing Assets. Even though the Automobile and Tractor industries have not registered high growth, with our deep penetration and relationships with OEMs and dealers we were able to register a growth in disbursement over the previous quarter.
 
Mahindra Finance currently has a network of 1055 offices and Total Assets Under Management of Rs.35694 crores as on 30th September, 2014 as against Rs.31146 crores as on 30th September, 2013, a growth of 15%.

The Company continued to broad base its consortium of lenders by bringing in new Banks, Mutual Funds, Insurance Companies and Trusts.

During this period, India Ratings and Brickworks Ratings upgraded Company’s long term debt rating to “AAA”. CARE Ratings also assigned “AAA” rating to Company’s long term debt.
 
SUBSIDIARIES
 
Mahindra Insurance Brokers Limited (MIBL)

During the half year ended 30th September 2014, MIBL registered income at Rs.56.1 crores as against Rs.49.1 crores, a growth of 14% over the same period previous year. The Profit After Tax (PAT) registered was Rs.17.5 crores as against Rs.16.8 crores, registering a growth of 4% over the same period previous year.

During the quarter ended 30th September 2014, MIBL registered income at Rs.29.6 crores as against Rs.24.3 crores, a growth of 22% over the same period previous year. The Profit After Tax (PAT) registered was Rs.9.0 crores as against Rs.8.8 crores, registering a growth of 2% over the same period previous year.
 
 Mahindra Rural Housing Finance Limited (MRHFL)

During the half year ended 30th September 2014, MRHFL disbursed Rs. 427.1 Crores as against  Rs. 250.9 Crores during the same period previous year, registering a growth of  70% over the same period previous year. The Profit After Tax (PAT) registered a growth of 65% at Rs. 15.0 Crores as against Rs. 9.1 Crores for the same period previous year.

During the quarter ended 30th September 2014, MRHFL disbursed Rs. 215.6 Crores as against Rs. 137.8 Crores during the same period previous year, registering a growth of 56% over the same period previous year. The Profit After Tax (PAT) registered a growth of 50% at Rs. 9.9 Crores as against Rs. 6.6 Crores for the same period previous year.

About Mahindra & Mahindra Financial Services Limited
 
Mahindra & Mahindra Financial Services Limited (Mahindra Finance), part of the USD 16.5 billion Mahindra Group, is one of India’s leading non-banking finance companies. Focused on the rural and semi-urban sector, the Company has over 3 million customers and has an AUM of over USD 5 billion. The Company is a leading vehicle and tractor financier and also offers fixed deposits and loans to SMEs. The Company has over 1,000 offices across the country and is the first finance Company from India to form a part of Dow Jones Sustainability Index. 
 
The Company's Insurance Broking subsidiary, Mahindra Insurance Brokers Limited (MIBL), is a licensed Composite Broker providing Direct and Reinsurance broking services. 
 
Mahindra Rural Housing Finance (MRHFL) a subsidiary of MMFSL provides loans for purchase, renovation, construction of houses to individuals in the rural areas of the country.
 
The Company has a JV in US, Mahindra Finance USA, in partnership with De Lage Landen, a subsidiary of Rabo Bank, for financing Mahindra tractors in US.
 
Visit us at www.mahindrafinance.com

About Mahindra

The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
 
A USD 16.5 billion multinational group based in Mumbai, India, Mahindra employs more than 180,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractorsutility vehiclesinformation technology, financial services  and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.
 
In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the world’s largest, most powerful public companies, as measured by revenue, profit, assets and market value. The Mahindra Group also received the Financial Times ‘Boldness in Business’ Award in the ‘Emerging Markets’ category in 2013.
 
Visit us at www.mahindra.com

 
Media Contact Details

Ruzbeh Irani, Chief Group Communications and Ethics Officer and Member of the Group Executive Board Mahindra Group Mahindra & Mahindra Financial Services Limited, ,+91 (22) 24901441 , group.communications@mahindra.com

 

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BWI: Fee-based Businesses Leading Growth Drivers for Rediff.com in 2Q14

 
Source : Rediff.com India Ltd
Wednesday, October 22, 2014 4:12PM IST (10:42AM GMT)
 
NASDAQ:REDF(NASDAQ:REDF)
Fee-based Businesses Leading Growth Drivers for Rediff.com in 2Q14
 
Mumbai, Maharashtra, India

Rediff.com’s overall performance in the past two quarters signaled the emergence of an internet media business model in which fee-based revenue is the key driver and online advertising is in a supporting role. Revenues from such fee-based businesses contributed to 54% of the India Online Revenue in the immediate past quarter.
 
Such fee-based businesses for the quarter grew 31% on a year over year basis and helped to some extent offset a decline of 22% in advertising revenue. Overall revenue for the quarter ended September 30, 2014, declined 8% compared to the corresponding quarter last year.
 
Our diligent focus on analytics helped us achieve industry metrics for these businesses during the recently completed quarter, such as a 26% take rate (fees earned as a percentage of value of products transacted), a 14% positive product margin and a merchandise return rate as low as 14%.
 
“We are witnessing a change in our revenue streams where the revenues from the fee-based businesses are playing a leading role supported by the traditional display advertising revenues. We believe our strength lies in our ability to grow and monetize the 16 million + unique users coming to our site every month through various offerings for consumers and small and medium enterprises. The use of data science to monitor key business metrics is helping us keep our business performance on the growth path,” said Ajit Balakrishnan, Chairman and CEO, Rediff.com India Ltd.
 
According to ComScore Media Metrix, Rediff.com’s reach in India grew 17.5% on a year-on-year basis to 16.5 million unique users in a market which grew just 1% in the same time period.
 
Further details of Rediff.com’s results for the second fiscal quarter ended September 30, 2014 are appended in tabular form to this press release.  A script of the earnings result conference call held on October 22, 2014 will also be made available on Rediff’s Investor Information website at investor.rediff.com.
 
About Rediff.com
 
Rediff.com (NASDAQ: REDF) is one of the premier worldwide online providers of news, information, communication, entertainment and shopping services to Indians worldwide. Founded in 1996, Rediff.com is headquartered in Mumbai, India with offices in New Delhi, India and New York, USA.
 
Safe Harbor
 
Except for historical information and discussions contained herein, statements included in this release may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and reflect our current expectations. Forward-looking statements are identified by certain words or phrases such as "may", "will", "aim", "will likely result", "believe", "expect", "will continue", "anticipate", "estimate", "intend", "plan", "contemplate", "seek to", "future", "objective", "goal", "project", "should", "will pursue" and similar expressions or variations of such expressions. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those that may be projected by these forward looking statements. These risks and uncertainties include but are not limited to the slowdown in the economies worldwide and in the sectors in which our clients are based, the slowdown in the Internet and IT sectors world-wide, competition, success of our past and future acquisitions, attracting, recruiting and retaining highly skilled employees, technology, acceptance of new products and services, the development of broadband Internet and 3G networks in India, legal and regulatory policies, managing risks associated with customer products, the wide spread acceptance of the Internet as well as other risks detailed in the Form 20-F and other reports filed by Rediff.com India Limited with the U.S. Securities and Exchange Commission. Rediff.com India Limited and its subsidiaries may, from time to time, make additional written and oral forward looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. Rediff.com India Limited does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
 

TABLES FOLLOW

 
STATEMENT OF OPERATIONS
QUARTER ENDED SEPTEMBER 30, 2014

       (All figures are in US$ millions, unless otherwise indicated below)
 
  Quarter ended September 30
  2014 2013
Revenues    
India Online 3.17 3.18
US Publishing 0.48 0.78
Total Revenues 3.65 3.96
Cost of Revenues * (2.75) (2.61)
Gross Margin 0.90 1.35
Gross Margin % 25% 34%
Operating Expenses * (3.77) (2.97)
Operating EBITDA (2.87) (1.62)
Depreciation / Amortization (0.44) (0.75)
Interest Income 0.26 0.32
Gain on Sale of Investment - 2.74
Miscellaneous income 0.04 0.35
Foreign Exchange gain (loss) (0.01) 0.02
Net loss  before income taxes (3.02) 1.06
Tax - -
Net loss (3.02) 1.06
Net loss per ADS (in US dollars), basic (0.109) 0.038
Net loss per ADS (in US dollars), diluted (0.109) 0.038
Weighted average ADSs outstanding (in millions) 27.59 27.59
* Stock-Based Compensation included in:    
Cost of Revenues 0.00 0.01
Operating Expenses 0.12 0.13
 
Notes
  • Each ADS represents one half of an equity share.
  • The above numbers are subject to audit. An audit could result in adjustments which would result in the audited numbers varying from the numbers set forth above.
  • The company established an ESOP trust for the benefit of employees, which has acquired 1,015,000 shares (equivalent to 2,030,000 ADSs). These shares are treated as treasury stock and therefore are excluded from the EPS calculations.
 
Non-GAAP Measures Note
 
Operating EBITDA and non-GAAP operating expenses are the non-GAAP measures in this press release. These measurements are not recognized under generally accepted accounting principles (“GAAP”).
 
Operating EBITDA represents loss from operations prior to adjustments for depreciation/ amortization, non-recurring items and other income or expense and tax. However, other companies may calculate operating EBITDA differently. Operating EBITDA is not intended to represent cash flows as defined by generally accepted accounting principles and should not be considered as an indicator of cash flow from operations. We have included information concerning Operating EBITDA in this press release because management and our board of directors use it as a measure of our performance. In addition, future investment and capital allocation decisions are based on Operating EBITDA. Investors and industry analysts use Operating EBITDA to measure the Company’s performance compared to historic results and our peer group. The reconciliation between Operating EBITDA and net loss, the GAAP measure, is as follows:
 
RECONCILIATION FROM OPERATING EBITDA TO NET INCOME
QUARTER ENDED SEPTEMBER 30, 2014

(All figures are in US$ millions)
 
  Quarter ended September 30
  2014 2013
Operating EBITDA (Non-GAAP) (2.87)  (1.62)
Depreciation / Amortization (0.44) (0.75)
Interest Income 0.26 0.32
Gain on Sale of investment - 2.74
Miscellaneous income 0.04 0.35
Foreign Exchange gain (loss) (0.01) 0.02
Net loss  before income taxes (3.02) 1.06
Tax                   -                        -  
Net loss (GAAP) (3.02) 1.06
 
Non-GAAP operating expenses represent our operating expenses comprised of sales and marketing, product development and general and administrative expenses excluding depreciation and amortization. We have used non-GAAP operating expenses measure to compute our Operating EBITDA. A reconciliation of GAAP operating expenses to non-GAAP operating expenses is as follows:
 
RECONCILIATION FROM GAAP TO NON-GAAP OPERATING EXPENSES
QUARTER ENDED SEPTEMBER 30, 2014

(All figures are in US$ millions)
 
  Quarter ended September 30
  2014 2013
Operating Expenses (GAAP) 4.22 3.69
Depreciation/Amortization (0.44) (0.75)
Foreign Exchange gain (loss) (0.01) 0.02
Operating Expenses (Non-GAAP) 3.77 2.97

 
Media Contact Details

Mandar Narvekar, Investor Relations and Corporate Affairs Contact Rediff.com India Ltd, ,+91 (22) 61820000 , investor@rediff.co.in

 

KEYWORDS: Business/ Finance:Banking & Financial services, Business Services, Financial Analyst & Investors, Information Technology, Stock Exchanges, Technology;General:Internet

 

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BWI: Media Monitoring Portal – Clipbyte Plans to raise Rs 5 crore via Crowd Funding

 
Source : Param Digital Platform
Wednesday, October 22, 2014 2:55PM IST (9:25AM GMT)
 
Media Monitoring Portal – Clipbyte Plans to raise Rs 5 crore via Crowd Funding
 
Mumbai, Maharashtra, India

Riding on the wave of e-commerce bandwagon, India's first e-commerce media monitoring portal for television, print, internet and social media –clipbyte.com is planning to raise Rs 5 crore via crowd funding among other options.
 
The portal would be a step forward from the brick and mortar model and the prevailing practice in the media monitoring segment, said Jeetendra Murkute, director, who has been in the media monitoring segment for over a decade.
 
“The portal, which will be a single dashboard, is currently undergoing trial runs and would be formally operational next month in November. It will facilitate users to view and download television clips from 150-200 channels, sitting in the comfort of their office or on the move,” Murkute said.
 
The company plans to dilute 20-25% equity to raise funds for the portal that would allow registered clients to access any media monitoring data of their own including competitors news coverage as also options to generate various reports, Murkute said.
 
The proceeds of the funds raised would be deployed largely in promotional activity of the portal to ensure that the brand clip-byte is demystified among the target audience, he said.
 
Monitoring and analysis print media will commence in December 2014 while internet and social media monitoring would be available from January 2015.
 
Media monitoring is on the rise in the business and political fraternity with public relations agencies and in-house communication professionals using this tool to keep a tab on their rival competitors, as well as to understand the campaign effectiveness, message penetration for their products and services.
 
The portal may rake in revenues of around Rs 210 million in its first year of operations once commissioned in November.
 
The rising investor interest in e-commerce portal follows the rising euphoria in this business which is expected to grow 7-fold to $22 billion in the next 5 years.
 
About Clip-byte

Param Digital Platform And Solutions, a company in the field of  developing and maintaining  digital video platforms. Managed by professionals having over a decade of experience in media technology. 

 
Media Contact Details

Jeetendra Murkute, Param Digital Platform, ,+91-9930340340

 

KEYWORDS: Business/ Finance:Advertising, PR & marketing, Business Services, Information Technology, Technology;General:Consumer interest, Internet, Lifestyle

 

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BWI: HDFC Ltd Financial Results for the Half-Year Ended September 30, 2014 Standalone and Consolidated

 
Source : Housing Development Finance Corporation Limited
Wednesday, October 22, 2014 1:53PM IST (8:23AM GMT)
 
HDFC Ltd Financial Results for the Half-Year Ended September 30, 2014 Standalone and Consolidated
 
Mumbai, Maharashtra, India

 Performance Highlights
 

  • Standalone profit before dividend, sale of investments and tax increased by 21% to Rs. 1,774.59 crore for the quarter ended September 30, 2014
  • Standalone Net Interest Margin for the half-year ended September 30, 2014 at 4%, spread on loans at 2.29%
  • 23% growth in the individual loan book (after adding back the loans sold in the preceding 12 months)
  • Gross non-performing loans reduced to 0.69% of the loan portfolio as at September 30, 2014 compared to 0.79% in the previous year
 
 
The Board of Directors of Housing Development Finance Corporation Limited (HDFC) announced its unaudited standalone and consolidated financial results for the first half of the financial year 2014-15, following its meeting on Wednesday, October 22, 2014 in Mumbai. The accounts have been subject to a limited review by the Corporation’s statutory auditors in line with the regulatory guidelines.
 

STANDALONE FINANCIAL RESULTS

 
Financials for the half year ended September 30, 2014
 
For the six months ended September 30, 2014, the profit before dividend, sale of investments and tax stood at Rs. 3,395.95 crore as compared to Rs. 2,855.05 crore in the corresponding period of the previous year, representing a growth of 19%.
 
The profit after tax excluding the impact of Deferred Tax Liability (DTL) on the Special Reserve stood at Rs. 2,859.93 crore as compared to Rs. 2,439.43 crore in the corresponding period of the previous year, representing a growth of 17%.
 
The Corporation creates a Special Reserve through appropriation of profits in order to avail tax deduction under Section 36 (1)(viii) of the Income Tax Act, 1961. The National Housing Bank (NHB) has advised Housing Finance Companies to create a Deferred Tax Liability (DTL) on the amount transferred to the Special Reserve as a matter of prudence.
 
After providing Rs. 157.71 crore for the DTL on the Special Reserve, the profit after tax stood for the half-year ended September 30, 2014 stood at Rs. 2,702.22 crore, representing a growth of 11%. 
 
Financials for the quarter ended September 30, 2014
 
For the quarter ended September 30, 2014, the profit before dividend, sale of investments and tax stood at Rs. 1,774.59 crore as compared to Rs. 1,464.08 crore in the corresponding quarter of the previous year, representing a growth of 21%.
 
The profit after tax excluding the impact of DTL on the Special Reserve stood at Rs. 1,440.83 crore compared to Rs. 1,266.33 crore in the corresponding quarter of the previous year, recording a growth of 14%.
 
After providing Rs. 83.27 crore for the DTL on the Special Reserve, the profit after tax stood for the quarter ended September 30, 2014 stood at Rs. 1,357.56 crore.
 

TOTAL ASSETS

 
As at September 30, 2014 the total assets of HDFC stood at Rs. 2,38,363 crore as against Rs. 2,11,759 crore as at September 30, 2013 – an increase of 13%.
 

LENDING OPERATIONS

 
As at September 30, 2014, the loan book stood at Rs. 2,12,344 crore as against Rs. 1,84,886 crore as at September 30, 2013. Loans sold in the preceding twelve months amounted to Rs. 7,825 crore. The growth in individual loan book, after adding back loans sold is 23% (16% net of loans sold). The growth in the non-individual loan portfolio stood at 11%. The growth in the total loan book inclusive of loans sold is 19% (15% net of loans sold).
 
Of the total loan book, individual loans comprise 71%. Further, 81% of the incremental growth in the loan book during the period came from individual loans.
 
As at September 30, 2014, the total loans outstanding in respect of loans sold/assigned stood at Rs. 20,756 crore. HDFC continues to service these loans and is entitled to the residual interest on the loans sold. The residual interest on the individual loans sold is 1.38% p.a. and is being accounted over the life of the loans.
 
Non-Performing Loans

Gross non-performing loans as at September 30, 2014 amounted to Rs. 1,472 crore. This is equivalent to 0.69% of the loan portfolio (previous year – 0.79%). The non-performing loans of the individual portfolio stood at 0.53% while that of the non-individual portfolio stood at 1.02%.
 
As per the NHB norms, the Corporation is required to carry a total provision of Rs. 1,547 crore.   
 
The balance in the provision for contingencies account as at September 30, 2014 stood at Rs. 1,983 crore of which Rs. 471 crore is on account of non-performing loans and the balance Rs. 1,512 crore is in respect of general provisioning on standard loans and other provisions. This balance in the provision for contingencies is equivalent to 0.93% of the portfolio. Thus the Corporation carries an additional provision of Rs. 436 crore over the regulatory requirements.
 
Spread and Net Interest Margins
 
The spread on loans over the cost of borrowings for the half year ended September 30, 2014 stood at 2.29%.
 
Net Interest Margin for the half year ended September 30, 2014 was 4%.


INVESTMENTS


As at September 30, 2014, the unrealised gains on HDFC’s listed investments amounted to Rs. 45,871 crore (previous year Rs. 28,938 crore). This excludes the appreciation in the value of unlisted investments.
 
CAPITAL ADEQUACY RATIO
 
The Corporation’s capital adequacy ratio, without reducing the investment in HDFC Bank from Tier I capital, while treating it as a 100% risk weight stood at 17.9% of the risk weighted assets, of which Tier I capital was 15.7% and Tier II capital 2.2%. The capital adequacy ratio after reducing the investment in HDFC Bank from Tier I capital stood at 15.3%, of which Tier I capital was 13% and Tier II capital was 2.3%. As per the regulatory norms, the minimum requirement for the capital adequacy ratio and Tier 1 capital is 12% and 6% respectively of the risk weighted assets.
 
DISTRIBUTION NETWORK
 
HDFC’s distribution network spans 366 outlets, which include 95 offices of HDFC’s distribution company, HDFC Sales Private Limited (HSPL). In addition, HDFC covers additional locations through its outreach programmes. Distribution channels form an integral part of the distribution network with home loans being distributed through HSPL, HDFC Bank Limited and third party direct selling associates.
 
To cater to non-resident Indians, HDFC has representative offices in London, Dubai and Singapore and service associates in Kuwait, Oman, Qatar, Abu Dhabi and Saudi Arabia.
 
CONSOLIDATED FINANCIAL RESULTS
 
For the half year ended September 30, 2014, the consolidated profit after tax stood at Rs. 3,937.26 crore as compared to Rs. 3,598.27 crore in the corresponding period last year.
 
The consolidated profit after tax for the six months ended September 30, 2014 does not consider the charge in respect of the redemption premium on Zero Coupon Debentures amounting to Rs. 203.81 crore (net of tax) {Rs. 181.35 crore for the six months ended September 30, 2013}.
 
Had the aforesaid adjustment been considered, the profit after tax excluding the impact of DTL on Special Reserve for the six months ended September 30, 2014 would have been Rs. 3,900.06 crore compared to Rs. 3,416.92 crore, representing a growth of 14%.
 
After considering the effect of the DTL on the Special Reserve of Rs. 166.61 crore, the consolidated profit after tax for the six months ended September 30, 2014 would have been Rs. 3,733.45 crore.
 
The share of profit from subsidiary and associate companies in the consolidated profit after tax stood at 31% for the half year ended September 30, 2014. 

To view the results, please click on the links given below:

Standalone Results Sep 2014

Consolidated Results Sep 2014

September 2014
 

 
Media Contact Details

Mahesh Shah, Housing Development Finance Corporation Limited, ,+91(22) 66316410 , maheshs@hdfc.com

 

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