 "HDFC Q1 net profit at Rs 1,556 cr; gross NPAs rise to 1.12%")
The country’s largest mortgage player Housing Development Finance Corporation (HDFC) on Wednesday posted a net profit of Rs 1,556 crore in the June quarter, compared to one of Rs 1,871 crore in April-June 2016.
The two figures, it said, were not comparable. It had a gain of Rs 922 crore in this year’s quarter from a one-time stake sale in HDFC ERGO General to ERGO International AG, a subsidiary of Munich Re. It had also created a one-time special provision of Rs 275 crore as a charge to the statement of profit and loss.
The HDFC stock closed flat at
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