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Housing Development Finance fiscal Q3 profit climbs 12.8% YOY

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Housing Development Finance fiscal Q3 profit climbs 12.8% YOY

India's Housing Development Finance Corp. Ltd. posted a 12.8% year-over-year increase in net profit for the fiscal third quarter ended Dec. 31, 2016.

The company's consolidated net profit attributable to shareholders increased in the aggregate to 27.29 billion Indian rupees, or 16.92 rupees per share, from 24.19 billion rupees, or 15.19 rupees per share, in the prior-year quarter.

Total income climbed to 149.81 billion rupees from 122.54 billion rupees. Premium income from the company's insurance business jumped to 52.22 billion rupees from 39.62 billion rupees.

Profit before other income rose to 29.98 billion rupees from 25.41 billion rupees in the prior-year period.

For the nine-month period ended Dec. 31, 2016, the company's consolidated net profit attributable to shareholders increased 18.5% year over year in the aggregate to 79.72 billion rupees, or 49.76 rupees per share, from 67.30 billion rupees, or 42.14 rupees per share.

As of Jan. 27, US$1 was equivalent to 68.05 Indian rupees.