HDFC drops after announcing Q1 result

HDFC lost 2.56% to Rs 1,301.05 at 15:25 IST on BSE after net profit rose 1.21% to Rs 1360.98 crore on 9.39% rise in total income to Rs 7068.28 crore in Q1 June 2015 over Q1 June 2014.

The result was announced during market hours today, 28 July 2015.

Meanwhile, the S&P BSE Sensex was down 110.02 points or 0.4% at 27,451.36

On BSE, so far 83,572 shares were traded in the counter as against average daily volume of 1.63 lakh shares in the past one quarter.

The stock hit a high of Rs 1,338 and a low of Rs 1,300.10 so far during the day. The stock had hit a record high of Rs 1,399.80 on 4 March 2015. The stock had hit a 52-week low of Rs 975.25 on 16 October 2014.

The stock had outperformed the market over the past one month till 27 July 2015, rising 3.64% compared with Sensex's 0.9% decline. The scrip also outperformed the market in past one quarter, surging 10.18% as against Sensex's 1.41% gain.

The large-cap company has equity capital of Rs 315.28 crore. Face value per share is Rs 2.

On consolidated basis, HDFC's net profit rose 17.69% to Rs 2204.29 crore on 13.76% growth in total income to Rs 11440.62 crore in Q1 June 2015 over Q1 June 2014.

HDFC's loan book stood at Rs 2.31 lakh crore as on 30 June 2015 as against loan book of Rs 2.03 lakh crore as on 30 June 2014. This is after considering the loans sold during the preceding 12 months amounting to Rs 10949 crore.

HDFC said that in the previous financial year, the company had received dividend of Rs 269.35 crore from HDFC Bank in June 2014 and accordingly the income was accounted for in Q1 June 2014. In the current year, dividend of Rs 314.57 crore from HDFC Bank has been received in July 2015. This income will consequently be accounted for in Q2 September 2015, HDFC said. To this extent, the result of Q1 June 2015 is not comparable with Q1 June 2014, the company said.

HDFC has a wide network of offices spread across the country. It also has offices in Dubai, London and Singapore and service associates in the Middle East region, to provide housing loans and property advisory services to Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs).

Powered by Capital Market - Live News