HDFC inches up after higher dividend income in Q3

HDFC rose 0.24% to Rs 1,218.20 at 9:36 IST on BSE after income from dividend rose 31.61% to Rs 179 crore in Q3 December 2016 over Q3 December 2015.

The announcement was made after market hours yesterday, 3 January 2017.

Meanwhile, the S&P BSE Sensex was up 10.84 points or 0.04% at 26,654.08.

On the BSE, 12,000 shares were traded on the counter so far as against the average daily volumes of 1.33 lakh shares in the past two weeks. The stock had hit a high of Rs 1,221.05 and a low of Rs 1,197.55 so far during the day.

The stock had hit a record high of Rs 1,463.25 on 7 September 2016 and a 52-week low of Rs 1,012 on 25 February 2016. It had underperformed the market over the past one month till 3 January 2017, sliding 2% compared with the Sensex's 1.57% rise. The scrip had also underperformed the market over the past one quarter declining 14.73% as against the Sensex's 5.67% fall.

The large-cap company has equity capital of Rs 317.02 crore. Face value per share is Rs 2.

HDFC's profit on sale of investments declined 94.73% to Rs 3 crore in Q3 December 2016 over Q3 December 2015.

The company under the loan assignment route sold loans amounting to Rs 3355 crore in Q3 December 2016 to HDFC Bank. Loans sold in the preceding twelve months amounted to Rs 15201 crore. The figures are subject to limited review by the statutory auditors of the company.

HDFC's consolidated net profit rose 16.1% to Rs 2446.21 crore on 16.5% increase in total income to Rs 14526.69 crore in Q2 September 2016 over Q2 September 2015.

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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