HDFC Q3 net profit up 11.5% YoY to Rs 1425 crore; stock declines nearly 3%

NEW DELHI: HDFC Ltd slipped as much as 2.7 per cent in trade on Thursday, after the mortgage lender reported 11.5 per cent YoY growth in its net profit number for the quarter ended December 31 to Rs 1,425 crore.

The reported net profit was largely in line with ET Now estimate of Rs 1,421 crore. The mortage lender reported a net profit of Rs 1,277.7 crore in the corresponding quarter of last financial year.

At 01:40 p.m.; HDFC was trading 2.1 per cent lower at Rs 1315. It hit a low of Rs 1,307.90 and a high of Rs 1,343 in trade today.

Net interest income or the difference between interest earned and interest paid rose by 14 per cent on year-on-year basis to Rs 1,905.40 crore for the third quarter of the current financial year, which was slightly lower than ET Now poll of Rs 2,229 crore.