MUMBAI Housing Development Finance Corp (HDFC), India's biggest mortgage lender, reported a 16 percent rise in net profit for the Oct-Dec quarter on Monday, missing market estimates.
Standalone net profit for the fiscal third quarter was 11.4 billion rupees compared with 9.81 billion rupees a year ago. Total income rose 17 percent to 52.42 billion rupees over the same period.
Analysts expected HDFC to post a net profit of 11.96 billion rupees, according to Thomson Reuters I/B/E/S.
(Reporting by Aditi Shah; Editing by Prateek Chatterjee)
Trending On Reuters
With the Nifty breaching 8,500, sentiments are again bullish. But markets have been in the 8,200-8,600 range for some time and stocks across the board do not give the required confidence except for the liquidity factor. Many frontline stocks are not participating on the upside and the core sector is in a downtrend, writes Ambareesh Baliga. Column