HDFC Q1 net profit jumps 54% to Rs 2,190 crore
HDFC’s total standalone income for the quarter rises by 20% to Rs 9,952 crore from Rs 8,289.98 crore a year ago
New Delhi: Housing Development Finance Corp. Ltd on Monday reported a 54% jump in standalone net profit to Rs 2,190 crore for the first quarter ended 30 June, compared to a net profit of Rs 1,424.47 crore in the same period last year.
HDFC’s total standalone income for the quarter increased by 20% to Rs 9,952 crore from Rs 8,289.98 crore a year ago, it said in a regulatory filing. The respective consolidated figures were not provided by the company.
Q1 revenue from operations increased to Rs 9,883.64 crore, as against Rs 8,259.77 crore in the year-ago period.
Moreover, the company’s board approved issuing bonds up to Rs 35,000 crore on a private placement basis. Besides, it has also been allowed to raise up to $1.5 billion by tapping foreign sources through the external commercial borrowing route, HDFC said.
HDFC shares closed at Rs 2,028.05 per share on BSE, down 0.80%. During the day, the stock fell as much as 1.55% to Rs 2,012.70 per share.