January 21, 2013 / 8:38 AM / 5 years ago

HDFC net profit up 16 percent, misses forecast

MUMBAI (Reuters) - 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.

Indian currency of different denominations are seen in this picture illustration taken in Mumbai April 30, 2012. REUTERS/Vivek Prakash/Files

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

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