HDFC Ltd Q1 net profit up 27% to Rs 2,797 crore

The country's largest mortgage player HDFC Ltd reported a 26.86% increase in consolidated net profit at Rs 2,796.92 crore helped by receipts from stake sale in its general insurance arm.

Its consolidated net profit during the April-June quarter of the previous fiscal stood at Rs 2,204.29 crore.

HDFC Ltd's income from operations rose to Rs 13,516.99 crore for the first quarter ended June 30, 2016-17 as against Rs 11,397.29 crore in the year-ago period.

During the quarter under review, company sold 12.33 crore shares in HDFC Ergo General Insurance to Ergo International Ag, resulting in pre tax gain of Rs 871.35 crore.

HDFC Ltd scrips closed 1.48% up at Rs 1,387.85 on BSE.