HDFC Q3 net jumps 4 times to Rs 8,372 crore

New Delhi: Mortgage lender HDFC on Monday reported about a fourfold jump in profit at Rs 8,372.49 crore for the quarter ended December 31 on a yearly comparison while its Board approved to raise up to Rs 45,000 crore via NCDs.

“The company board granted its approval for issuance of secured redeemable non-convertible debentures aggregating Rs 45,000 crore in various tranches on a private placement basis,” the lender said in a regulatory filing.

The company had posted a profit of Rs 2,113.80 crore in the same quarter last year. The bottom line of the company got a boost of Rs 9,019.81 crore from fair value gain from the merger of Gruh Finance with Bandhan Bank”.

Gruh Finance, an associate of the NBFC, merged with Bandhan Bank with effect from October 17. “On derecognition of investment in Gruh, the corporation has recognized a fair value gain of Rs 9,019.81 crore,” HDFC said. (IANS)

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