HDFC Q1 net rises nearly 10 pc to Rs 1,872.9 crore

Mortgage lender HDFC today reported nearly 10 per cent rise in consolidated net profit at Rs 1,872.9 crore for the first quarter ended June 30.
The company had posted consolidated profit of Rs 1,707.1 crore in the April-June quarter in the previous fiscal.
Total income (consolidated) increased to Rs 10,056.07 crore for the quarter ended June 30, 2014 from Rs 8,482.85 crore for the quarter ended June 30, 2013.
HDFC posted a 14.6 per cent rise in its standalone net profit at Rs 1,344.66 crore for the first quarter.
The company had posted profit of Rs 1,173.1 crore during the corresponding quarter (April-June) in previous fiscal.

"Total income has increased from Rs 5,564.94 crore for the quarter ended June 30, 2013 to Rs 6,461.24 crore for the quarter ended June 30, 2014," it said in a regulatory filing to the BSE.

As at June 30, 2014, the loan book of the lender stood at Rs 2.03 lakh crore as against Rs 1.77 lakh crore in the previous year.
"This is after considering the loans sold during the preceding 12 months amounting to Rs 6,980 crore," it said.
The company's main business is financing by way of loans for the purchase or construction of residential houses, commercial real estate and certain other purposes.

Shares of HDFC Ltd closed at Rs 1,011.05 per scrip on the BSE, up 3.06 per cent from the previous close.