Leading mortgage firm Housing Development Finance Corporation (HDFC) today reported a 21.63 per cent rise in net profit to Rs. 807.54 crore for the second quarter ended September 30, led by higher loan disbursal.
The firm had posted a net profit of Rs. 663.94 crore during the corresponding quarter of last fiscal, HDFC said in
a filing to the Bombay Stock Exchange.
It also reported an increase of 4.21 per cent in its total income during the second quarter to Rs. 2,970.22 crore,
as against Rs. 2,850.23 crore in the year-ago period.
HDFC reported a 18.73 per cent increase in its loan book at Rs. 1,06,287 crore at the end of September, compared to Rs.
89,519 crore in the corresponding period of 2009-10. During the quarter ended September 30, HDFC has allotted
53.73 lakh equity shares of Rs. 2 each pursuant to conversion of foreign currency convertible bonds and exercise of stock
options by its employees and directors.
During the quarter under review, the mortgage firm sub-divided shares of face value of Rs. 10 to Rs. 2 each with
effect from August 21, 2010. The share split was in the ratio of 1:5.
Meanwhile, the housing finance firm also announced the appointment of Keki M Mistry as Vice Chairman for a period of
five years effective November 14, subject to shareholders approval.
