HDFC extends losses after announcing Q2 results

HDFC declined 1.26% to Rs 1,323.90 at 14:45 IST on BSE after net profit rose 18.19% to Rs 1604.56 crore on 12.13% rise in total income to Rs 7480.24 crore in Q2 September 2015 over Q2 September 2014.

The result was announced during market hours today, 26 October 2015.

Meanwhile, the BSE Sensex was down 46.56 points, or 0.12%, to 27,437.03.

On BSE, so far 1.75 lakh shares were traded in the counter, compared with an average volume of 1.33 lakh shares in the past one quarter.

The stock hit a high of Rs 1,350 and a low of Rs 1,315.75 so far during the day. The stock hit a record high of Rs 1,399.80 on 4 March 2015. The stock hit a 52-week low of Rs 1,017.35 on 22 October 2014.

The stock had outperformed the market over the past one month till 23 October 2015, rising 14.92% compared with 6.38% rise in the Sensex. The scrip had also outperformed the market in past one quarter, declining 0.63% as against Sensex's 3.17% decline.

The large-cap company has an equity capital of Rs 315.54 crore. Face value per share is Rs 2.

HDFC's consolidated net profit rose 2.04% to Rs 2106.51 crore on 7.61% rise in total income to Rs 12530.28 crore in Q2 September 2015 over Q2 September 2014.

As of 30 September 2015, the loan book stood at Rs 237991 crore as against Rs 212344 crore as of 30 September 2014.

Meanwhile, HDFC announced that the board of directors of the company has granted in-principle approval for a sponsored level 1 ADR programme in respect of up to 10% of the issued and paid-up share capital of the company. The programme envisages conversion of existing equity shares of the company into ADRs and there will be no fresh issue of equity shares.

HDFC's board of directors also granted in-principle approval for issue of rupee denominated bonds aggregating up to $750 million in overseas markets.

Meanwhile, the board has also approved re-appointment of Mr. Keki M. Mistry as the Managing Director (designated as Vice-Chairman & Chief Executive Officer) of the company, subject to approval of the shareholders of the company.

HDFC is India's first retail housing finance company and is currently one of the largest originators of housing loans in the country.

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