Mortgage lender Housing Development Finance Corporation (HDFC) on Monday reported a net profit of Rs 3,780.5 crore for the quarter ended September, beating Street estimates. The net profit was up 31.7 percent on a year-on-year basis.
Analysts in a CNBC-TV18 poll had estimated the company's net profit at Rs 3,767.7 crore for the three-month period.
HDFC's net interest income -- the difference between interest earned and interest paid -- increased 12.7 percent on year to Rs 4,108.5 crore, as against analysts' estimate of Rs 4,229.1 crore.
HDFC's assets under management were at Rs 5.97 lakh crore as of September 30, up 10.6 percent on a year-on-year basis and four percent sequentially.
The AUM growth came in at the highest level recorded in five quarters on a year-on-year basis, and the highest in 13 quarters on a quarter-on-quarter basis.
HDFC shares traded 1.4 percent higher at Rs 2,884 apiece after the earnings announcement.
(Edited by : Sandeep Singh)
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