Housing Development Finance Corporation (HDFC) today recorded a 15.73 per cent decline in its net profit at Rs 546.83 crore for the quarter ended December 31, 2008, as compared to Rs 648.93 crore in the same period last year.
The reason for the lower profit in the current year is that in the year-ago quarter, there was an exceptional profit on the sale of investments amounting to Rs 103.42 crore in the same quarter a year ago.
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Profit before other income and exceptional items, however, was higher in the quarter under review, at Rs 774.51 crore, as compared to Rs 652.45 crore in the corresponding period a year ago.
Total income for the reporting quarter rose 35.74 per cent to Rs 2,924.84 crore as against Rs 2,154.72 crore.
