HDFC net profit jumps 22% in Q2

Oct 19, 2010 |

Correspondent

HDFC on Monday said it has registered a 21.63 per cent jump in its net profit at `807.54 crore in the second quarter ended September 30, on the back of growth in loans and better interest margins. Housing Development Finance Corporation (HDFC) has reported a net profit of `663.94 crore in the quarter under review a year ago. The company has reported an increase of 4.21 per cent in its total income during the second quarter to `2,970.22 crore, as against `2,850.23 crore in the year-ago period. “The increase in loan volumes coupled with the spread on loans over the cost of borrowings in H1 (first-half of FY11) helped us report a 21.63 per cent increase in our net profit,” HDFC’s vice-chairman,
Mr Keki M Mistry, said. The company reported a 29 per cent growth in its loan approvals.

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