HDFC profit rises 17 percent in January-March quarter

Mumbai, May 8 (IANS) India’s largest mortgage lender Housing Development Finance Corporation (HDFC) Wednesday said its net profit increased 17.27 percent to Rs.1,555.21 crore in the quarter ended March 31, 2013.

The lender’s total income increased to Rs.5,677.71 crore in January-March quarter this year as compared to Rs.4,891.03 crore registered in the corresponding period of last year.

For the financial year 2012-13, the company has posted a net profit after tax of Rs.4,848.34 crore, as compared to Rs.4,122.62 crore recorded in the previous year.

The company’s total income increased to Rs.21,147.62 crore for the financial year ended March 31, 2013 as compared to Rs.17,354.28 crore recorded in the previous fiscal.

HDFC share price surged almost three percent after the results were announced. The scrip price rose by 2.96 percent at Rs.878.

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