HDFC turns volatile after Q4 results

Housing Development Finance Corporation lost 0.7% to Rs 881 at 13:58 IST on BSE after consolidated net profit rose 15.91% to Rs 2414.70 crore on 11.34% growth in total income to Rs 12296.02 crore in Q4 March 2014 over Q4 March 2013.

The Q4 result was announced during trading hours today, 6 May 2014.

Meanwhile, the S&P BSE Sensex was up 77.69 points or 0.35% at 22,522.81.

On BSE, so far 73,000 shares were traded in the counter as against average daily volume of 66,000 shares in the past two weeks.

The stock was volatile. The stock lost as much as 1.18% at the day's low of Rs 876.70 so far during the day. The stock rose as much as 0.87% at the day's high of Rs 895 so far during the day.

Housing Development Finance Corporation (HDFC)'s consolidated net profit rose 19.7% to Rs 7947.82 crore on 13.41% growth in total income to Rs 40814.56 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).

HDFC's board of directors at its meeting held today, 6 May 2014, recommended dividend of Rs 14 per share for FY 2014.

Housing finance major 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).

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