HDFC Q1 net profit up 34% at Rs 1,707 cr

HDFC Q1 net profit up 34% at Rs 1,707 cr Mumbai: Housing finance major HDFC Friday posted 34 per cent rise in consolidated net profit at Rs 1,707.10 crore for the first quarter ended June 30, 2013.

It had posted consolidated net profit of Rs 1,275.86 crore in the April-June quarter a year ago, HDFC said in a BSE filing.

The total income during the period rose to Rs 8,482.85 crore, from Rs 7,388.51 crore in the same period a year ago.

The consolidated result includes profit of subsidiaries such as HDFC Bank, HDFC Standard Life, HDFC Ergo General Insurance, HDFC Venture Capital and Gruh Finance Ltd.

Parent company HDFC alone recorded a net profit of Rs 1,173.10 crore during the April-June quarter, up 17 per cent against Rs 1,001.91 crore in the same period a year ago.

The total income during the period on standalone basis rose to Rs 5,556.94 crore from Rs 4,934.95 crore in the same period of the previous fiscal.

The standalone profit of the company was in line with the market expectation. However, shares of the company were trading at Rs 802.60, down 2.46 per cent on the BSE.

As of June 30, 2013 the loan book stood at Rs 1,76,993 crore as compared Rs 1,48,262 crore at the end of first quarter of last fiscal.

PTI