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HDFC Q2 net profit up 76% at Rs 1,749 crore

Press Trust of India  |  New Delhi 

Mortgage lender HDFC on Monday said its consolidated net profit jumped over 76.3 per cent to Rs 1,748.69 crore in the second quarter ended September 2019.

Its consolidated net profit during the corresponding three months of 2018-19 stood at Rs 6,096.85 crore.

Total income on a consolidated basis rose to Rs 32,850.89 crore in the said quarter from Rs 22,950.66 crore a year ago, HDFC said in a regulatory filing.

On a standalone basis, its net profit rose by 60.6 per cent to Rs 3,961.53 crore from Rs 2,467.08 crore in the year-ago period.

Total income (standalone) increased to Rs 13,494.12 crore from Rs 11,256.96 crore a year ago.

In view of the scheme of amalgamation filed by Gruh Finance Ltd, a subsidiary of the Corporation, and Bandhan Bank and subsequent directive by the RBI to the Corporation to hold not more than 9.9 per cent of the share capital of Bandhan post merger, during the quarter ended September 30, 2019, 6.74 crore equity shares of Gruh were sold, resulting in a pre-tax gain of Rs 1,627.09 crore, HDFC said.

Figures for the previous period have been regrouped wherever necessary, in order to make them comparable, HDFC Ltd said further.

Stock of the company traded at Rs 2,177.95 apiece on the BSE, up 2.32 per cent from its previous close.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 04 2019. 15:25 IST