NDTV Profit

HDFC Q3 meets estimates, net up 16% to Rs 1140 crore


Housing Development Finance Corporation, India's biggest mortgage lender, reported a 16 per cent jump in net profit for the quarter ended December 31, 2012. HDFC said net profit jumped to 1,140 crore for the December quarter as compared to Rs 981 crore in the corresponding quarter a year ago.

Brokers polled by NDTV had estimated net profit at Rs 1,135 crore.

Net operational income rose 18 per cent year-on-year to Rs 1,729 crore against Rs 1,460 crore. Total Income jumped 17 per cent year-on-year from Rs 4,472.5 crore in the third quarter last year to Rs 5,250.4 crore for the three months to December 31, 2012.

The loan book grew at 21.8 per cent year-on-year. Net interest margins, a key measure of profitability, stood at 4.1 per cent for the nine months to December.

Gross non-performing assets were at 0.75 per cent of advances against 0.82 per cent of advances a year ago.

As of 2 p.m., HDFC shares traded off the day's low at Rs 819.50 on the BSE while the broader Sensex was up 0.4 per cent at 20,120.

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