Housing Development Finance Corporation Ltd (HDFC) reported a net profit of Rs 1,142 crore for the quarter ending March 31, 2011. This marks a 23% growth as compared to Rs 926 crore posted for the same period a year ago.
Net interest income rose 17.4% to Rs 1,511 crore from Rs 1,287 crore for the corresponding period a year ago.
Net operating income at Rs 1,655 crore.
Profit on sale of investments ar Rs 134 cr vs Rs 45 cr yoy.
The company's consolidated PAT stood at Rs 4,866.96 crore compared with Rs 3,915.99 crore in the previous financial year.
During the year under review, the company's total assets grew 19% to Rs 1,32,727 crore against Rs 1,11,762 crore last year. As on 31 March, 2011 the outstanding loans amounted to Rs 1,17,126.62 crore compared with little less than a lakh crore in the previous year.
In a statement, HDFC said, "The corporation's recovery performance has been very good during the year. This has been made possible due to a proactive recoveries management and consistent applications of recovery techniques which ensured improved collections and timely response to default."
The company also has recommended a dividend of Rs 9 per share of face value of Rs 2. The annual general meeting (AGM) of HDFC will be held on 8th July in Mumbai.
On the Bombay Stock Exchange, shares of HDFC were trading at Rs 663.85, down 0.04% at IST 1442.
