HDFC Q4 net up 17.3 percent on loan book growth

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Housing Development Finance Corp, India’s biggest mortgage lender, reported a 17.3 percent rise in net profit for the Jan-March quarter on Wednesday, helped by higher disbursal.

Standalone net profit for the fiscal fourth quarter was 15.55 billion rupees compared with 13.26 billion rupees a year earlier, and total income rose 16 percent to 56.66 billion rupees over the same period.

HDFC’s loan book at end-March stood at 1.7 trillion rupees, up 20.6 percent from a year earlier, it said in a statement to the stock exchange.

Shares of HDFC were trading at Rs 880, up 3% on NSE at 3.10pm with a volume of 25.77 lac shares.