HDFC Q4 net up 17.3 percent on loan book growth

MUMBAI (Reuters) - Housing Development Finance Corp (HDFC), India's biggest mortgage lender, reported a 17.3 percent rise in net profit for the Jan-March quarter on Wednesday, helped by higher disbursal.

Standalone net profit for the fiscal fourth quarter was 15.55 billion rupees compared with 13.26 billion rupees a year earlier, and total income rose 16 percent to 56.66 billion rupees over the same period.

HDFC's loan book at end-March stood at 1.7 trillion rupees, up 20.6 percent from a year earlier, it said in a statement to the stock exchange.

Analysts on average expected HDFC to post a net profit of 15.06 billion rupees, according to Thomson Reuters I/B/E/S.

 

(Reporting by Aditi Shah; Editing by Anand Basu)