NBFC-giant Housing Development Finance Corp (HDFC) surpassed analysts' estimate by clocking over three times rise in its standalone net profit for the third quarter ended December 2017 (Q1FY18).

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HDFC posted standalone net profit of Rs 5,670.21 crore in Q3FY18, rising by a whopping 233.30% compared to Rs 1,701.21 crore in the corresponding period of the previous year.

Standalone Q3FY18 net profit also jumped by a massive 169.87% from Rs 2,101.12 crore in the preceding quarter.

A Bloomberg poll of analysts expected HDFC’s net profit at Rs 4,980 crore for Q3FY18.

Standalone total income of HDFC came in at Rs 8,695.09 crore, which increased by 6.70% from Rs 8,148.61 crore in Q3FY17, but gradually dropped by 0.75% versus Rs 8,760.92 crore in Q2FY18.

For the nine months period of FY18, standalone bottom-line (profit) stands at Rs 9,327.07 crore up 72.77% year-on-year (YoY), while top-line (total income) was at Rs 25,597.77 crore growing by 3.86% on yearly basis.

On consolidated basis, net profit stood at Rs 6,677.06 crore in Q3FY18, growing by 144.70% yoy, and that of total income were at Rs 16,846.77 crore up 12.40% yoy.

In its meeting held on Monday, HDFC board members has approved for issuance of secured redeemable non-convertible debentures, aggregating up to Rs 35,000 crore, in various tranches, on a private placement basis.

Also, the members approved issuance of rupee denominated bonds/foreign currency denominated bonds to overseas investors for an additional amount not exceeding $1,500 million in various tranches.

Post Q3FY18 announcement, the HDFC share price is trading at Rs 1953.50 per piece on the BSE, up Rs 50.95 or 2.68% at around 1420 hours.