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HDFC Q2 net up 22 per cent
Our Banking Bureau
26 October 2004

Mumbai: HDFC has reported a 22 per cent increase in net profit for the second quarter of the current fiscal. Net stood at Rs248.13 crore against Rs203.24 crore during the second quarter of the previous fiscal.

"The spread was maintained at 2.2 per cent," said a company official.

Income from operations rose 8.6 per cent to Rs840 crore from Rs773.73 crore earlier.

Total expenditure rose minimally to Rs528.39 crore (Rs521.04 crore).

Profit before tax at Rs310.6 crore (Rs249.3 crore) rose 25 per cent, while provision for tax stood at Rs62.47 crore (Rs46.06 crore).

For the six months ended September 30, the company reported a 22 per cent increase in net profit at Rs452.75 (Rs371 crore).

Income from operations stood at Rs1,601.43 crore (Rs1,499.61 crore).

Under income from operations, interest on loans accounted for Rs1,235.37 crore (Rs1,178.27 crore). Fees and other charges were almost the same as earlier.

Income from leased properties at Rs76.63 crore showed a marked increase from the year-ago figure of Rs13.36 crore.

The loan portfolio as on September 30 amounted to Rs31,938 crore, 27 per cent higher than Rs25,148 crore earlier, said a company release.
Approvals during the six-month period amounted to Rs8,907 crore (Rs6,871.95 crore), growing 30 per cent.

send this article to a friend Disbursements grew 28 per cent to Rs6,983 crore (Rs470 crore).

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HDFC Q2 net up 22 per cent