HDFC Q1 net profit rises 46% to Rs 3,203, interest income up 11%

On a consolidated basis, the housing financier's total revenue from operations stood at Rs 23,239.82 crore in Q1

India’s largest mortgage lender — Housing Development Finance Corporation (HDFC) — reported net profit of Rs 3,203, a growth of 46 per cent year-on-year for the quarter ended June 30, 2019. 

Net interest income grew by 11 per cent to Rs 3,041 crore during the quarter, while operating profit at Rs 2,979 crore rose by 19 per cent year-on-year. Provisioning cost or impairment on financial instruments stood at Rs 890 crore as against Rs 19.7 crore a year ago. The quarter also recorded profit from sale of its subsidiary (Gruh Finance, which was recently merged with Bandhan Bank) totaling to