HDFC profits rise in 9 months

MUMBAI, January 14: Housing Development Finance Corporation (HDFC) has shown excellent performance during the first nine months ended on December 1997. The income from operations during the period amounted to Rs 1043.28 crore against Rs 912.56 crore same period last year. It has earned a higher gross profit of Rs 277.52 crore against Rs 247.40 crore. After depreciation of Rs 36.93 crore (Rs 30.61 crore) and taxation of Rs 42.60 crore (Rs 46.90 crore), the net profit amounted to Rs 197.99 crore against Rs 169.88 crore. During 1996-97, HDFC had earned a net profit of Rs 247.88 crore.