Mortgage lender Housing Development Finance Corporation (HDFC)'s net profit jumped 21% to Rs 844.5 crore in the first quarter of financial year 2011-12 compared to Rs 694 crore in same quarter the previous year.
The net interest income for the quarter ended June 2011 was Rs 1151 crore.
The numbers were almost in line with street expectations. A CNBC-TV18 poll saw net profit at Rs 850 crore.
Key highlights of the quarter:
1) As at June 30, 2011, the loan book stood at Rs 1,24,167 crore as against Rs 1,01,625 crore in the previous year. Loans sold during the preceding 12 months amounted to Rs 3,123 crores.
2) The corporation's main business is financing by way of loans. All other activities of the corporation revolve around the main business. As such, there are no separate reportable segments, for the Corporation, as per the Accounting Standard on Segment Reporting (AS 17), notified by the Companies (Accounting Standards) Rules, 2006.
3) During the quarter ended June 30, 2011, the corporation has allotted 30,44,010 equity shares of Rs 2 each pursuant to exercise of stock options by certain employees/directors.
4) There was no investor complaint that was unresolved as on April 1, 2011. During the quarter, the Corporation received four (4) investor complaints, all of which were resolved and as such there was no unresolved investor complaint as at the end of the said quarter.
5) Figures for the previous period have been regrouped wherever necessary, in order to make them comparable.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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