SEARCH

HDFC first quarter net up 21%

print   ·  
Mr Deepak S. Parekh, Chairman, HDFC (left), with Mr K.M. Mistry, Managing Director, at the company's AGM in Mumbai on Friday. Shashi Ashiwal
Mr Deepak S. Parekh, Chairman, HDFC (left), with Mr K.M. Mistry, Managing Director, at the company's AGM in Mumbai on Friday. Shashi Ashiwal

Our Bureau

Mumbai, July 15

HOUSING Development Finance Corporation has reported a 21-per cent increase in net profit for the first quarter ended June 30, 2005.

Net profit for the quarter amounted to Rs 247.28 crore as against Rs 204.62 crore during the corresponding year-ago quarter.

Income from operations, at Rs 932.55 crore, showed a 22.5 per cent increase year-on-year. Income from interest on loans showed a 33.85 per cent increase, at Rs 760.67 crore (Rs 590.68 crore).

Total expenditure rose by 21.98 per cent, and amounted to Rs 622.94 crore for the quarter (Rs 510.67 crore). Of this, interest and other charges increased by 22 per cent, at Rs 566.86 crore (Rs 464.46 crore).

Gross profit (after interest and before depreciation and taxation), rose by 23.53 per cent, to Rs 311.82 crore (Rs 252.41 crore). Loan approvals during the quarter ended June 30, 2005 amounted to Rs 4,628 crore as against Rs 3,567 crore in the corresponding period last year, representing a growth of 30 per cent. Loan amounted to Rs 3,437 crore, (Rs 2,690 crore), representing an increase of 28 per cent.

As on June 30, 2005, the total assets of HDFC stood at Rs 42,691 crore (Rs 33,749 crore) - an increase of 26 per cent, said a company press release.The loan portfolio (including loans outstanding, deposits and investments in preference shares and debentures for financing real estate-related projects) as on June 30, 2005 amounted to Rs 39,081 crore as against Rs 30,246 crore as on June 30, 2004, representing an increase of 29 per cent.

HDFC's capital adequacy ratio stood at 14.6 per cent of the risk weighted assets, as against the minimum requirement of 12 per cent. Tier 1 capital adequacy was 11.8 per cent against a minimum requirement of 6 per cent.

(This article was published in the Business Line print edition dated July 16, 2005)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.

O
P
E
N

close

Recent Article in MONEY & BANKING

Kotak-ING Vysya merger: good fit, good deal

ING Vysya Bank makes a good fit for Kotak Mahindra Bank in many ways. The merger will help Kotak Bank expand its reach at a time... »


Comments to: web.businessline@thehindu.co.in. Copyright © 2014, The Hindu Business Line.