HDFC Q2 net profit increased 76% to Rs 1,749 crore

New Delhi, November 4 () The mortgage lender HDFC said Monday that its consolidated net profit increased more than 76.3 percent to Rs 1,748.69 rupees in the second quarter that ended in September 2019.

Its consolidated net profit during the corresponding three months of 2018-19 was Rs 6,096.85 rupees.

Total revenue on a consolidated basis increased to Rs 32,850.89 rupees in that quarter from Rs 22,950.66 rupees a year ago, HDFC said in a regulatory document.

On an independent basis, its net profit increased 60.6 percent to Rs 3,961.53 rupees from Rs 2,467.08 rupees in the same period of the previous year.

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

In view of the amalgamation scheme presented by Gruh Finance Ltd, a subsidiary of the Corporation, and Bandhan Bank and the subsequent RBI directive to the Corporation to hold no more than 9.9 percent of Bandhan's share capital after the merger, during the The quarter ended September 30, 2019, Gruh 6.74 million rupees were sold, resulting in a pre-tax gain of 1627.09 million rupees, HDFC said.

The figures for the previous period have been regrouped whenever necessary, so that they are comparable, said HDFC Ltd. The company's shares were trading at Rs 2,177.95 each in the BSE, 2.32 percent more than in its previous close. KPM MKJ

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