HDFC Q1 Profit Up, Stock Zooms

Housing Dev Finance Corp Ltd (HDFC) announced its first quarter results during market hours Friday. According to the report, the standalone net profit of the company rose 46.25pc year-on-year to Rs.3203.10-Cr as against Rs2190-Cr in the same quarter last year.

Operational revenue during the June quarter impressed by 30.59pc to Rs12,990.29-Cr V/s Rs 9,947.35 crore last year. EBITDA arrived at Rs.11753.61-Cr in comparison with Rs .9435.66-Cr last year, by 24.56pc increase, year on year.

The stock reacted to the earnings and HDFC touched its intraday high of Rs.2,148.65 per share after opening lower in the morning session.

On Friday, the stock closed at Rs.2137.75per share with gains of 2.35pc or Rs.48.95 on the NSE. The benchmark index NSE Nifty closed 11,000.35 up by 20.35 points and Sensex settled at 37,118.22, higher by 99.90 points.

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