HDFC net profit jumps 23%

MUMBAI: Housing Development Finance Corporation (HDFC) has recorded a 23 per cent jump in its net profit of Rs 95.16 crore for the third quarter of 1999-2000 over the Rs 77.36 crore net profit in the corresponding period of the previous fiscal. The housing finance major has also recorded a 30 per cent growth in its Q3 loan disbursements to Rs 2,955 crore from Rs 2,274 crore in the previous fiscal.HDFC’s approvals during the nine-month period rose 27 per cent to Rs 3,608 crore from Rs 2,844 crore in the corresponding period of previous fiscal.

The premier housing finance intermediary’s income from operations for the third quarter of the current fiscal clocked a 14.67 per cent rise from Rs 444.44 crore in the previous fiscal to Rs 509.62 crore recorded in the current fiscal. HDFC’s retail business has grown by 64 per cent to Rs 2324 crore during the first nine months of the current fiscal over the corresponding period of the previous fiscal.