HDFC shares down 2% post Q2

MUMBAI: Shares of top mortgage lender HDFC Ltd today fell by 2 per cent after the company reported a marginal rise in consolidated net profit for the second quarter ended September 30.
The blue-chip stock ended the day with a loss of 2.09 per cent at Rs 1,312.85 on BSE. During the day, it fell by 2.6 per cent to Rs 1,305.90. At NSE, shares of the company went down by 1.88 per cent to Rs 1,312.70.
The company’s market valuation fell by Rs 4,417.47 crore to Rs 2,07,125.53 crore. In terms of volume, 2.18 lakh shares of the company changed hands at BSE and over 48 lakh shares were traded at NSE during the day.
“The results were in-line with market expectations and the stock corrected mildly in today’s session,” said Hiren Dhakan Associate Fund manager at Bonanza Portfolio. HDFC today reported a marginal rise in consolidated net profit to Rs 2,106.51 crore for the second quarter ended September 30.
The company’s net profit was at Rs 2,064.36 crore during the July-September quarter of the previous fiscal, 2014-15. The total income for the second quarter of the current financial year rose to Rs 12,520.83 crore from Rs 11,608.43 crore in the year ago period, HDFC said in a BSE filing.
On standalone basis, the net profit of HDFC increased by 18.2 per cent to Rs 1,604.56 crore during the quarter under review, from Rs 1,357.56 crore in the year-ago period. Income on standalone basis rose to Rs 7,480.24 crore from Rs 6,670.67 crore. —PTI