HDFC Q1 net profit up 19 per cent at Rs1,002 crore

Housing Development Finance Corporation Ltd (HDFC) has posted 19-per cent increase in its net after-tax profit at Rs1,001.9 crore for the first quarter of the current financial year (April 2012-March 2013) against Rs844.5 crore for the similar quarter of the previous financial year (2011-12).

Total income of the housing finance major during the quarter ended 30 June 2012 increased to Rs4,942.3 crore from Rs3,821.6 crore during the quarter ended 30 June 2011, unaudited results for the Quarter ended 30 June 2012.

HDFC said its net interest income also rose by 19 per cent to Rs1,526 crore during Q1-FY'13 from Rs1,286 crore in Q1FY'12.

HDFC's loan book as of 30 June 2012 stood at Rs1,48,262 crore against Rs1,24,168 crore in the previous year quarter. In fact, HDFC had sold loans worth Rs4,978 crore during the past 12 months.

During the quarter ended 30 June 2012, HDFC had also allotted  86,39,670 equity shares of Rs2 each to certain warrent holders in exchange of warrants and 30,23,650 equity shares by way of stock options by certain employees and directors.