HDFC has dipped nearly 5% to Rs 790 after the net interest margin (NIM) of the country’s largest mortgage declined to 3.9% in the quarter ended June 30, 2013 (Q1 FY2014) against 4.2% during March 31, 2013 quarter.
The stock opened at Rs 829 and hit a high of Rs 832 on NSE before the announcements of results. A combined 5.98 million shares have changed hands on the counter so far on NSE and BSE.
Meanwhile, the housing finance company has reported a lower than expected 17% year-on-year (yoy) rise its standalone net profit at Rs 1,173 crore for Q1 FY2014.
Analyst on an average had expected profit of Rs 1,193 crore from the company. HDFC had a profit of Rs 1,555 crore in March quarter and Rs 1,002 crore in a year ago quarter.
“Total income grew 12.6% to Rs 5,557 crore, while total expenditure rose 11% at Rs 3,957 crore on yoy basis,” HDFC said in a statement.
The stock opened at Rs 829 and hit a high of Rs 832 on NSE before the announcements of results. A combined 5.98 million shares have changed hands on the counter so far on NSE and BSE.
Meanwhile, the housing finance company has reported a lower than expected 17% year-on-year (yoy) rise its standalone net profit at Rs 1,173 crore for Q1 FY2014.
Analyst on an average had expected profit of Rs 1,193 crore from the company. HDFC had a profit of Rs 1,555 crore in March quarter and Rs 1,002 crore in a year ago quarter.
“Total income grew 12.6% to Rs 5,557 crore, while total expenditure rose 11% at Rs 3,957 crore on yoy basis,” HDFC said in a statement.
