The HDFC Q2 profit jumps more than 60% to Rs 3,961 million rupees
NEW DELHI: mortgage lender HDFC (Housing Development Finance Corp) reported on Monday a net gain of Rs 3,961 million rupees in the quarter of September, an increase of 60.57 percent of the Rs 2,467 million rupees recorded in the same period last year.
Analysts polled by the Reuters news agency expected a gain of Rs 3,276 million in the second quarter.
The profit figure was helped by a profit before tax of Rs 1,627 million rupees in the sale of shares in Gruh Finance during the quarter.
Revenue from operations rose to Rs 10,478.33 million rupees from Rs 9,494.70 million rupees in the same quarter last year.
The debt ratio at the end of the September quarter was 4.76.