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

By: | Published: July 27, 2016 4:24 PM

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

HDFC Ltd's total income (rpt) total income 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.(Reuters)HDFC Ltd’s total income (rpt) total income 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.(Reuters)

The country’s largest mortgage player HDFC Ltd today reported 26.86 per cent 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 total income (rpt) total income 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 per cent up at Rs 1,387.85 on BSE. PTI SVK SA 07271600

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition