HDFC Q2 net profit rises by over 76% at ₹10,749 crore

NEW DELHI : Mortgage lender HDFC on Monday said its consolidated net profit jumped over 76.3% to ₹10,748.69 crore in the second quarter ended September 2019.

Its consolidated net profit during the corresponding three months of 2018-19 stood at ₹6,096.85 crore.

Total income on a consolidated basis rose to ₹32,850.89 crore in the said quarter from ₹22,950.66 crore a year ago, HDFC said in a regulatory filing.

On a standalone basis, its net profit rose by 60.6% to ₹3,961.53 crore from ₹2,467.08 crore in the year-ago period.

Total income (standalone) increased to ₹13,494.12 crore from ₹11,256.96 crore a year ago.

In view of the scheme of amalgamation filed by Gruh Finance Ltd, a subsidiary of the Corporation, and Bandhan Bank and subsequent directive by the RBI to the Corporation to hold not more than 9.9% of the share capital of Bandhan post merger, during the quarter ended September 30, 2019, 6.74 crore equity shares of Gruh were sold, resulting in a pre-tax gain of ₹1,627.09 crore, HDFC said.

Figures for the previous period have been regrouped wherever necessary, in order to make them comparable, HDFC Ltd said further.

Stock of the company traded at ₹2,177.95 apiece on the BSE, up 2.32% from its previous close.