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HDFC Ltd Q3 net rises 11% to Rs 2,419 crore

Country's largest mortgage lender HDFC Wednesday reported a rise of 11.03 percent in consolidated net profit at Rs 2,419 crore for the third quarter ended December 31.


HDFC Ltd Q3 net rises 11% to Rs 2,419 crore

New Delhi: Country's largest mortgage lender HDFC Wednesday reported a rise of 11.03 percent in consolidated net profit at Rs 2,419 crore for the third quarter ended December 31.

HDFC's net profit in the October-December period of the previous fiscal stood at Rs 2,179.01 crore.

On a standalone basis, Housing Development Finance Corporation (HDFC) reported a rise of 6.7 percent in profit at Rs 1,520.51 crore during October-December period as against Rs 1,425.49 crore a year ago.

The standalone income increased to Rs 7,327.69 crore for the quarter ended December 31, from Rs 6,882.52 crore.

"The Group... total income has increased to Rs 12,306.52 crore for the quarter ended December 31, from Rs 11,952.48 crore for the quarter ended December 31, 2014," HDFC said in the regulatory filing.

As of December 2015, the loan book of the lender stood at Rs 2,48,097 crore as against Rs 2,19,939 crore in the previous year.

HDFC said the loans sold during the preceding 12 months amounting to Rs 12,975 crore were not included.

The corporation mainly finances loans for purchase or construction of residential houses, commercial real estate and certain other purposes.

Shares of HDFC closed 0.55 percent lower at Rs 1,167.70 on BSE.

From Zee News

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