HDFC posts Q3 net profit at Rs 2,113.8 cr; income rises to Rs 10,569 cr

Total income rose to Rs 10,569 crore during the December quarter against Rs 8,824 crore in the year-ago period

The Housing Development Finance Corporation (HDFC) reported a net profit of Rs 2,113.80 crore on a standalone basis for the third quarter ended December 2018 (Q3FY19). The company had posted a net profit of Rs 5,300 crore in the October-December quarter of the last financial year (Q3FY18).

The profit numbers for Q3FY19 were not comparable with that of the Q3FY18, HDFC said in a statement.

In Q3FY18, the company had sold shares in the initial public offer of HDFC Life Insurance Company for a consideration of Rs 5,250 crore.

Profit Before Sale of Investments & Provision for Loan Losses rose