Housing Development Finance Corporation (HDFC) has posted a 23 per cent rise in its net profit at Rs 671.25 crore for the quarter ended December 31,2009 as against Rs 546.83 crore for the same quarter a year ago.
Total income has decreased 5.88 per cent from Rs 2924.84 crore for the quarter ended December 31, 2008 to Rs 2762.21 crore in the quarter under review as interest rates have come down.
Its net interest income (NII) is up 27.6 per cent at Rs 1,001 crore against Rs 784.3 crore.
Operationally, the company has grown its loan book by about 18 per cent year-on-year with interest spreads at 2.25 per cent for the year to date, almost flat compared to the previous year. Loan approvals have grown over 30 per cent y-o-y to about Rs 12,700 crore, while disbursals were up 19 per cent to Rs 11,200 crore.
The stock was trading flat post results.
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