HDFC Q3 net up three-fold to Rs 56.7 bn on part sale of life insurance arm

Loan book up 20% to Rs 3.42 trillion; steps up lending for affordable housing

Mortgage major Housing Development Finance Corporation’s (HDFC) net profit jumped to Rs 56.7 billion (Rs 5,670 crore) in the third quarter ended December 2017 (Q3FY18) on gains from sale of part stake in HDFC Standard Life Insurance Ltd on listing.

It had posted a net profit of Rs 17.01 billion (Rs 1,701 crore) in the third quarter of 2016-17 (Q3FY17).

HDFC's stock closed 2.7 per cent higher at Rs 1,953 per share on the Bombay Stock Exchange. It had touched a 52-day high of Rs 1,982 per share in intra-day trading.

Its net interest income in Q3FY18