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Falling rates take HDFC net up 22%: 'No pressure on margins; upbeat on H2 outlook'.
(From Business Line)
Mumbai, Oct. 13. REDUCTION in interest costs, increased interest spreads and a robust growth in disbursals have helped Housing Finance Development Corporation (HDFC) notch up a 21.59 per cent rise in net profit for the quarter ended September 30, 2003.
Net profit for the quarter amounted to Rs 203.24 crore, up from Rs 167.15 crore reported for the corresponding quarter of the previous year. Income from operations showed a modest increase of 4.2 per cent, at Rs 773.73 crore, up from Rs 742.82 crore.
The loan funds at Rs 25,491 crore (Rs 20,918 crore as at September 2002) has increased 22 per cent in absolute terms while interest …
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