HDFC Q2 net up 18.5 percent, meets forecast

HDFC-RESULTS:HDFC Q2 net up 18.5 percent, meets forecast

Housing Development Finance Corp (HDFC) , India biggest mortgage lender, reported an 18.5 percent rise in net profit for the July-September quarter on Monday, meeting market estimates.

Standalone net profit for the fiscal second quarter was 11.51 billion rupees compared with 9.71 billion rupees a year ago, and total income rose 27 percent to 52.7 billion rupees over the same period.

Analysts expected HDFC to post a net profit of 11.48 billion rupees, according to Thomson Reuters I/B/E/S.