HDFC net up 33% at Rs 891 crore

Leading mortgage firm Housing Development Finance Corporation (HDFC) on Friday reported a 32.7% jump in net profit to Rs 890.8 crore for the third quarter ended December 2010, propelled by higher loan disbursal.

Leading mortgage firm Housing Development Finance Corporation (HDFC) on Friday reported a 32.7% jump in net profit to Rs 890.8 crore for the third quarter ended December 2010, propelled by higher loan disbursal.

HT Image

The firm had posted a net profit of Rs 671.2 crore during the corresponding quarter in the previous fiscal, HDFC said in a statement.

Total income of the company rose by 20.2% to Rs 3,321.1 crore, as against Rs 2,762.2 crore in the October-December quarter a year-ago.

HDFC reported a 20.6% increase in its loan book at Rs 1,09,051 crore at the end of December compared to Rs 90,110 crore in the corresponding period of 2009-10.

During the quarter, treasury income witnessed over three-fold at Rs 167.2 crore against Rs 51.3 crore in the same period in the previous fiscal.

For the first nine months ended December 2010, HDFC reported 26% rise in net profit at Rs 2,393 crore compared to Rs 1,900.1 crore in the same period a year ago.

Total income during the nine months rose to Rs 9,093.2 crore against Rs 8,461.5 crore during the same period in the previous fiscal, up 7%.