HDFC profit rises 10 percent to Rs.1,266 crore
Mumbai: India's largest mortgage lender Housing Development Finance Corporation (HDFC) Monday said its net profit rose by 10 percent to Rs.1,266.33 crore in July-September quarter. The company's total income rose to Rs.5,953.98 crore for the quarter ended Sep 30, as compared to Rs.5,277.2 crore recorded in the corresponding quarter of last year.
HDFC's income from main business of home loans to individuals and builders jumped by 13 percent. This was the main driver of the company's profitability and income. HDFC share price Monday rose 0.23 percent to Rs.820.45 at the Bombay Stock Exchange.
RBI Chief Raghuram Rajan stated that more economic data is needed to be confident that economic growth is picking up, although he added that the benefits to exports from the Rupee's fall is yet to kick in.
Date 11-12-13, Duration 2:19, Views 40