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HDFC Q3 net profit jumps over two-fold at Rs 6,677 crore

The company's consolidated net profit in the corresponding quarter of the previous fiscal stood at Rs 2,728.66 crore.

Mortgage lender Housing Development Finance Corporation on Monday reported over two-fold jump in its consolidated net profit at Rs 6,677.06 crore for third quarter ended December 2017. On a standalone basis, HDFC Ltd's net profit jumped to Rs 5,670.21 crore during the third quarter of this fiscal, against Rs 1,701.21 crore in the same period a year earlier.

The company's consolidated net profit in the corresponding quarter of the previous fiscal stood at Rs 2,728.66 crore.

Total income (consolidated) rose to Rs 16,846.77 crore during the period under review, as against Rs 14,988.87 crore in the same period of 2016-17, the company said in a regulatory filing.

Housing Development and Finance Corporation (HDFC) reported a 7.8 per cent rise in income from operations at Rs 9,673.05 crore.

Premium income from its insurance increased by 18.5 per cent to Rs 6,182.24 crore during October-December quarter of 2017-18.

The provisions were raised to Rs 164.54 crore for the quarter as against Rs 153.13 crore in the same period a year ago.

Income (standalone) also increased to Rs 8,695.09 crore during the period under review, as compared to Rs 8,148.61 crore a year earlier, as per the filing.

The company's stock was trading 3.11 per cent higher at Rs 1,961.70 apiece on BSE in the afternoon trade today.