Housing Development Finance Corporation (HDFC) has announced a robust growth of 82.55% in its net income for the three months period ended December 31, 2007.
India’s leading mortgage finance company has posted a net profit of Rs 6,489.30 million for the quarter ended December 2007, as compared with Rs 3,554.90 million for the corresponding quarter, last fiscal.
The company’s interest income for the quarter climbed up 47.84% to Rs 21,503.50 million, whereas total income increased 47.74% to Rs 21,547.20 million, from Rs 14,584.50 million for the corresponding quarter, last year.
The diluted earnings per share (EPS) of the company stood at Rs 24.10 for the quarter ended December 2007.
HDFC sold investment in its subsidiary company HDFC Standard Life Insurance Company to Standard Life during the quarter. Accordingly, the shareholding of the Standard Life Group came up from 18.85% to 26%.
HDFC is involved in the business of providing services from home loans and deposit products, to property-related services and a training facility. It also offers specialized financial services (including consultancy) to its clients via affiliations with other financial institutions.
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