Against analyst estimates of a net profit figure of Rs. 4980 crore for the quarter ending December, the NBFC major HDFC today reported a higher net profit of Rs. 5670.21 crores. This means a straight rise by as much as three times in its net profit figure.
In comparison to the corresponding period in the year ago period, the company clocked a net profit of just Rs. 1701.21 crores. In respect of the previous quarter ending September, the rise in standalone net profit was by a 169.87% from Rs. 2101.12 crore.
The total income for the company however dropped to Rs. 8695.09 crore as against Rs 8,760.92 crore in Q2FY18.
Both the bottom line of the company represented in terms of profit as well as total income rose by 72.77% and 3.86% on a year-on-year basis.
After the results came in the stock of HDFC was trading at Rs. 1971.45 and also recorded its 52-week high in intraday trade today at Rs. 1982.