HDFC Q3 net up 27.5% at Rs 1,706 cr

Housing finance major HDFC on Monday reported a 27.55 per cent jump in net profit at Rs 1,705.83 crore (Rs 17.05 billion) for the third quarter ended December 31, 2012.

Housing Development and Finance Corporation had a net profit of Rs 1,337.38 crore (Rs 13.37 billion) in the October-December quarter of 2011-12 fiscal.

Total income of the bank increased to Rs 10,128.58 crore (Ra 101.28 billion) during the third quarter of the current fiscal, from Rs 6,379.96 crore (Rs 63.79 billion) in the corresponding period a year ago, HDFC said in a BSE filing.

The company's income from operation or interest income went up by 19 per cent to Rs 5,538 crore (Rs 55.38 billion) during the quarter, from Rs 4,648 crore (Rs 46.48 billion)

in the same period a year ago.

On a standalone basis, HDFC's net profit grew by 16.18 per cent to Rs 1,140.10 crore (Rs 11.4 billion).

It was 981.25 crore (Rs 9.81 billion) in the October-December quarter of previous fiscal.

Total income too rose to Rs 5,250.40 crore (Rs 52.5 billion) during the three-month period, from Rs 4,472.51 crore (Rs 44.72 billion) in the year ago period.

The gross non-performing loans stood at 0.75 per cent of the loan portfolio as at December 31, 2012, compared to 0.82 per cent as at the end December 2011.

As on December 31, 2012 the total assets of HDFC stood at over Rs 1.83 lakh crore (Rs 1.83 trillion).

Shares of HDFC were trading at Rs 819.15, down 0.39 per cent over their previous close on the BSE.