India's largest housing financier, HDFC Ltd reported over a three-fold rise in the\u00a0standalone net profit to Rs 5,670.21 crore for the quarter ended 31 December 2017, following\u00a0the one-time gain from the sale of equity shares in its subsidiary HDFC Standard Life Insurance Company. HDFC posted a standalone net profit of Rs 1,701.21 crore in the same quarter a year earlier.\u00a0HDFC's total income from operations\u00a0grew 6.55% to Rs 8,667.15 crore in the October-December period of the financial year 2018 from Rs 8,133.78 crore in the same quarter last year. An exceptional gain of Rs 3,675.31 crore was realised in the third-quarter due to the sale of equity shares in the insurance subsidiary HDFC Life. "During the quarter ended December 31, 2017, the corporation has offered 19,12,46,050 equity shares of Rs 10 each of HDFC Standard Life Insurance Company Limited (HDFC Life), a material subsidiary representing 9.52% of its issued and paid-up share capital in the initial public offering of HDFC Life, resulting in a profit of Rs 5,250.31 crore (net estimated expenses, which are yet to be fully crystallised)," HDFC said in an exchange filing. "In accordance with past practice and with the objective of further strengthening the Corporation's balance sheet, the corporation has made an additional provision of Rs 1,575 crore to shore up the provisions and contingencies account and thereby recognise provisions towards specific loans against future risks," HDFC added. During the quarter ended 31 December 2017, HDFC approved the sale of 10% of equity share capital of HDFC Developers Ltd and HDFC Realty Ltd, its wholly owned subsidiary companies to Quikr India. "The actual transaction has been consummated in January 2018 and as such the effect of the transactions has not been recognised in these results," HDFC further said. Following the earnings, shares of HDFC surged 4.18% to hit an all-time high of Rs\u00a01,982 on BSE. HDFC shares\u00a0were also the biggest contributor\u00a0to the Sensex rally, as the heavyweight stock of\u00a0HDFC alone added\u00a0about as much as 117 points to the index.\u00a0Indian stock markets continued to rally following a sustained uptick in shares of heavyweight companies such as Maruti Suzuki, HDFC, HDFC Bank, Infosys, TCS, Kotak Mahindra Bank, Reliance Industries and L&T steering the headline indices to fresh record highs. The benchmark Sensex amassed as much as\u00a0393.54 points to hit a fresh all-time high of 36,443.98 and the broader Nifty added 101.9 points to mark a fresh peak of 11,171.55.