HDFC Ltd Q1 net up 27% to Rs 2,797 cr

Income from operations up 19% to Rs 13,517 crore during the quarter; stock price ends 1.48% up on BSE

The country's largest mortgage player HDFC Ltd today reported 26.86 per cent increase in consolidated net profit at Rs 2,796.92 crore helped by receipts from stake sale in its general insurance arm.

Its consolidated net profit during the April-June quarter of the previous fiscal stood at Rs 2,204.29 crore.

HDFC Ltd's income from operations rose to Rs 13,516.99 crore for the first quarter ended June 30, 2016-17 as against Rs 11,397.29 crore in the year-ago period.

During the quarter under review, company sold 12.33 crore shares in HDFC Ergo General Insurance to Ergo International Ag, resulting in pre tax gain of Rs 871.35 crore.

HDFC Ltd scrips closed 1.48 per cent up at Rs 1,387.85 on BSE.