HDFC Q1 net profit jumps 54% to Rs 2,190 cr

HDFC Ltd today reported 54 per cent jump in standalone net profit to Rs 2,190 crore for the first quarter ended June, 2018-19.

The mortgage lender had registered a net profit of Rs 1,424.47 crore in the April-June quarter of last fiscal, 2017-18.

Its total income (standalone) for the quarter under review increased by 20 per cent to Rs 9,952 crore, from Rs 8,289.98 crore in the year-ago, HDFC said in a regulatory filing.

The respective consolidated figures were not provided by the company.
Revenue from operations increased to Rs 9,883.64 crore during June quarter of 2018-19, as against Rs 8,259.77 crore in the year-ago period.

The board of directors of the company today approved issuing bonds up to Rs 35,000 crore on a private placement basis.

Besides, it has also been allowed to raise up to USD 1.5 billion by tapping foreign sources through the external commercial borrowing route, HDFC said.

Stock of the company was trading 0.35 per cent down at Rs 2037.30 on BSE.