Housing Development Finance Corp reported a year-on-year decline of 65 percent in net profit for the quarter ended December to ₹2,925.8 crores. The company’s total revenues fell by 42.3 percent to ₹11,707 crores.
Nonetheless, the organization said that income for the December quarter was not similar to the past quarter as it incorporated the profit of Gruh Finance. HDFC said, on a like-to-like premise, the organization’s net benefit was at ₹3,694 crores as against ₹2,908 crores in the year-back quarter.
Toward the end of the December quarter, the advances on resources under administration premise remained at ₹5.52 lakh crores as against ₹5.05 lakh crores same time a year back, the organization said.
The organization saw a 26% year-on-year development in individual loan payments during the quarter finished December.