Friday, January 1, 2016

HDFC profit on sale of investments down by 50% to Rs 57 cr

Mortgage lender HDFC Ltd it has recorded 50 per cent decline in profit on sale of investment to Rs 57 crore for the quarter ended December.

The company had earned a profit of Rs 113 crore in the same quarter a year ago, HDFC Bank said in a regulatory filing.

Income from dividend was Rs 135 crore during the quarter as compared to Rs 103 crore in the same period a year ago, it said.

This includes dividend of Rs 127 crore from HDFC Standard Life Insurance Company, it added.

"The Corporation under the loans assignment route sold loans amounting to Rs 1,240 crore in the quarter to HDFC Bank as against 1,234 crore in the same quarter last fiscal," it said.

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