Chennai: Housing finance company HDFC Ltd has reported a net profit of Rs 2,113.80 crore on the standalone basis for the third quarter ended December 2018. The company had posted a net profit of Rs 5,300 crore in the October-December quarter of the last financial year.
The profit numbers for the quarter ended 31 December, 2018, are not comparable with that of the quarter ended 31 December, 2017, HDFC Ltd said in a statement.
In the quarter, the company had sold shares in the initial public offer of HDFC Life Insurance Company Limited for a consideration of Rs 5,250 crore. Total income rose to Rs 10,569 crore during the December quarter against Rs 8,824 crore in the year-ago period.
According to the National Housing Bank (NHB) norms, the gross non-performing assets stood at 1.22 per cent of the total assets (Rs 4,731 crore) at the end the of quarter.
During the nine months ended December 2018, the company’s profit after tax before other comprehensive income was Rs 6,771 crore compared to Rs 8,703 crore in the corresponding period of the previous year.