HDFC
Q2 net up 22 per cent
Our
Banking Bureau
26 October 2004
Mumbai:
HDFC has reported a 22 per cent increase in net profit
for the second quarter of the current fiscal. Net
stood at Rs248.13 crore against Rs203.24 crore during
the second quarter of the previous fiscal.
"The
spread was maintained at 2.2 per cent," said
a company official.
Income
from operations rose 8.6 per cent to Rs840 crore from
Rs773.73 crore earlier.
Total
expenditure rose minimally to Rs528.39 crore (Rs521.04
crore).
Profit
before tax at Rs310.6 crore (Rs249.3 crore) rose 25
per cent, while provision for tax stood at Rs62.47
crore (Rs46.06 crore).
For
the six months ended September 30, the company reported
a 22 per cent increase in net profit at Rs452.75 (Rs371
crore).
Income
from operations stood at Rs1,601.43 crore (Rs1,499.61
crore).
Under
income from operations, interest on loans accounted
for Rs1,235.37 crore (Rs1,178.27 crore). Fees and
other charges were almost the same as earlier.
Income
from leased properties at Rs76.63 crore showed a marked
increase from the year-ago figure of Rs13.36 crore.
The
loan portfolio as on September 30 amounted to Rs31,938
crore, 27 per cent higher than Rs25,148 crore earlier,
said a company release.
Approvals during the six-month period amounted to
Rs8,907 crore (Rs6,871.95 crore), growing 30 per cent.
