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HDFC Q1 net rises by 20% to Rs 137 crore

By Our Banking Bureau | 26 Jul 2002

1

Mumbai: HDFC Ltd has registered a 20-per cent increase in its net profit at Rs 137.3 crore for the first quarter ended 30 June 2002 against Rs 114.06 crore during the corresponding quarter of the previous financial year.

Income from operations rose 11 per cent, to Rs 702.88 crore from Rs 633.07 crore. Other income stood at Rs. 0.96 crore (Rs 0.9 crore). Total expenditure, at Rs 530.51 crore (Rs 491.81 crore), showed an increase of 7.8 per cent.

Gross profit after interest, before depreciation and taxation, stood at Rs 173.33 crore (Rs 142.16 crore). Profit before tax, at Rs 165.83 crore, rose by 25 per cent, from Rs 133.16 crore. Tax amounted to Rs 28.53 crore, net of deferred tax. Tax during the previous corresponding quarter amounted to Rs 19.1 crore.

Loan approvals under consideration rose 32 per cent to Rs 2,104.62 crore (Rs 1,593.12 crore). Disbursements during the period rose 31 per cent, to Rs 1,607 crore (Rs 1,225.43 crore). Approvals and disbursements were higher by 35 per cent and 37 per cent, respectively, for the quarter, year on year.

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