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Housing Development Finance fiscal Q1 profit rises 5.2% YOY

India's Housing Development Finance Corp. Ltd. posted a 5.2% year-over-year increase in profit for the fiscal first quarter ended June 30 amid a rise in total revenue from operations.

The company on Aug. 2 reported a fiscal first-quarter consolidated net profit attributable to owners of 30.94 billion Indian rupees, up from 29.42 billion rupees in the prior-year period. EPS for the period rose to 17.86 rupees from 17.27 rupees.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was 17.18 rupees, with four analysts reporting. The consensus GAAP EPS estimate for the quarter was 18.10 rupees, with three analysts reporting.

Interest income for the quarter increased to 127.35 billion rupees from 106.94 billion rupees, while fees and commission income rose to 5.42 billion rupees from 5.05 billion rupees.

Total revenue from operations climbed to 231.25 billion rupees from 196.55 billion rupees.

Impairment on financial instruments for the quarter came to 8.96 billion rupees, up from 241.5 million rupees in the prior-year period.

As of Aug. 2, US$1 was equivalent to 69.69 Indian rupees.