Housing Development Finance Corporation (HDFC) has moved higher by over 3% to Rs 882 on NSE after it reported 17% year-on-year (yoy) jump in net profit at Rs 1,555 crore for the quarter ended March 31, 2013. India’s largest mortgage lender had profit of Rs 1,326 crore in a year ago quarter.
Net interest income or the difference between income from operations less interest expenses grew by 14% to Rs 2,121 crore against Rs 1,867 crore in the year ago quarter.
“As at March 31, 2013, the gross loan book stood at Rs 170,046 crore as against Rs 140,875 crore in the previous year,” HDFC said in a statement.
Meanwhile, the directors have recommended a dividend of Rs 12.50 per share on face value of Rs 2 per share.
The stock opened at Rs 858 and touched low of Rs 852 on NSE before announcement of results. A combined 1.98 million shares have changed hands on the counter so far on NSE and BSE.
Net interest income or the difference between income from operations less interest expenses grew by 14% to Rs 2,121 crore against Rs 1,867 crore in the year ago quarter.
“As at March 31, 2013, the gross loan book stood at Rs 170,046 crore as against Rs 140,875 crore in the previous year,” HDFC said in a statement.
Meanwhile, the directors have recommended a dividend of Rs 12.50 per share on face value of Rs 2 per share.
The stock opened at Rs 858 and touched low of Rs 852 on NSE before announcement of results. A combined 1.98 million shares have changed hands on the counter so far on NSE and BSE.
