HDFC net rises 10 per cent in Q3

Housing finance major HDFC has reported a 10 per cent increase in its fiscal third quarter (October-December 2011-12) net profit, at Rs981.25 crore compared to Rs890.88 crore for the similar quarter of the previous financial year.

During the quarter ended 31 December 2011, HDFC reported higher loan approvals and disbursements, according to a filing with the Bombay Stock Exchange (BSE).

Total income of the lender for the quarter stood at Rs4,472.51 crore, up from Rs3,321.04 crore in the corresponding quarter last fiscal.

HDFC's loan book stood at Rs1,32,000 crore as of 31 December 2011, against Rs1,09,000 crore in the year-ago period, it said.

Net profit of the company for the April-December period stood at Rs2,796.48 crore against Rs2,393.01 crore in the year-ago period.

Total income during the period stood at Rs12,463.25 crore, against Rs9,093.21 crore in the corresponding year-ago period.