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HDFC share price rises over 2% intra day on 26.68% rise in Q4 net profit

Shares of HDFC rose over 1 per cent in trade today after the company reported a 26.8 per cent rise in standalone net profit for March 2019 quarter.

twitter-logo BusinessToday.In        Last Updated: May 13, 2019  | 18:28 IST
HDFC share price rises over 2% intra day on 26.68% rise in Q4 net profit
HDFC stock has been gaining for the last two days and risen 1.88% in the period.

Shares of Housing Developement Finance Corporation rose over 1 per cent in trade today after the company reported a 26.8 per cent rise in standalone net profit for March 2019 quarter.

The share gained 1.06 per cent to close at Rs 1,951.70 on the BSE. Intra-day, it climbed 2.67 per cent to Rs 1,982.80.

It was the top gainer among the frontline scrips on the BSE's key index.

On the NSE, shares went up 1.30 per cent to close at Rs 1,957.

HDFC stock has been gaining for the last two days and risen 1.88% in the period.

It touched an intraday high of Rs 1,982.80 (2.67%)on BSE.

The stock has gained 1.59% during the last one year and fallen 1% since the beginning of this year.

43 of 47 brokerages rate the stock "buy" or 'outperform', three "hold" and one "underperform", according to analysts' recommendations tracked by Reuters.

Mortgage lender HDFC posted a 26.8 per cent rise in standalone net profit at Rs 2,862 crore for March 2019 quarter. The company had reported a net profit of Rs 2,257 crore in the January-March quarter of the previous fiscal.

Total income during the quarter rose to Rs 11,586.58 crore as against Rs 9,322.36 crore in the year-ago period.

During the quarter, the net interest income improved to Rs 3,161 crore compared to Rs 2,650 crore in the corresponding quarter of the previous year, representing a growth of 19 per cent, HDFC said.

The board has proposed a final dividend of Rs 17.50 per share and the proposed final dividend is in addition to the interim dividend of Rs 3.50 per share declared by the board of directors on March 6, 2019, it said.

 With PTI inputs

Also Read: Sanjiv Puri to succeed YC Deveshwar as Chairman of ITC

 

Also Read: ITC posts 10.69% growth in FY19 profit at Rs 13,162.30 crore

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