HDFC net up 29% in third quarter

BS 200 SCORECARD

Housing Development Finance Corporation Ltd (HDFC) today announced a 29 per cent increase in its net profit at Rs 236.05 crore in the third-quarter ending December 2004.

This was up from Rs 182.81 crore in the corresponding period last year. Total income during the quarter grew by 13 per cent to Rs 848.01 crore compared to Rs 747.22 crore in the corresponding period last fiscal. Rise in income came on the back of sale of investments.

For the nine months ended December 31, 2004, HDFC's bottomline improved by 24 per cent to Rs 688.8 crore from the last year's corresponding figure of Rs 553.81 crore.

Total income in this nine-month period rose to Rs 3,077.84 crore from Rs 22,50.7 crore in the nine months ended December 2003. This follows an addition in HDFC's net profit by Rs 69.75 crore on the sale of shares in Intelenet Global Services.