Mumbai: Mortgage lender Housing Development Finance Corporation (HDFC) has reported a net profit of Rs468.11 crore for the first quarter ended June 2008, a 25.56% growth over the corresponding period a year-ago.
However, the results were below market expectations of over Rs500 crore. During the period under review, the total income rose to Rs2,318.62 crore, from Rs1,830.39 crore in the same period a year-ago.
“The board has accepted the resignation of S Venkatiramanan as a Director of the Corporation with effect from July 17,” the filing to the Bombay Stock Exchange stated. The stock slipped over 4% or Rs74 post result announcement.