HDFC shares surge nearly 5% on smart Q4 earnings
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HDFC shares surge nearly 5% on smart Q4 earnings

Last Updated: Wednesday, May 08, 2013, 18:04
 
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HDFC shares surge nearly 5% on smart Q4 earnings
Mumbai: Shares of HDFC on Wednesday rose by nearly 5 percent, after the mortgage major's consolidated net profit increased by 17.2 percent for the quarter ended March, 2013.

After surging nearly 5 percent to Rs 895 -- its 52-week high in intra-day trade, the stock finally ended at Rs 885.60, up 3.85 percent on the BSE.

At NSE, the scrip settled with a gain of 4.75 percent at Rs 894.30.

The stock was the top gainer on both Sensex and Nifty.

"Led by robust loan growth, HDFC reported 17 percent YoY rise in net profit for Q4. The result beat the street estimates and consequently the stock saw surge in buying interest," said Nagji K Rita, Chairman & MD, Inventure Growth & Securities Ltd.

HDFC's consolidated net profit during January-March quarter a year ago stood at Rs 1,776.74 crore.

Total income during the last quarter of 2012-13 increased to Rs 11,042.88 crore from Rs 9,278.11 crore in the same period of the previous fiscal, HDFC said in a BSE filing.

For the full fiscal ended March 31, 2013 the company's consolidated net profit stood at Rs 6,639.72 crore, up from Rs 5,462.51 crore. Total income during the fiscal increased to Rs 35,986.93 crore from Rs 30,302.86 crore.

On standalone basis, net profit during January-March quarter of 2012-13 stood at Rs 1,555.21 crore, up from Rs 1,326.14 crore, while total income stood at Rs 5,677.71 crore over Rs 4,891.03 crore a year earlier.

HDFC has declared dividend of Rs 12.50 per share.

In the broader market, the BSE benchmark Sensex was up by 101.23 points at 19,990.18.

PTI




First Published: Wednesday, May 08, 2013, 18:04


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