HDFC Q4 net jumps 26pc, approves stock
Tuesday, 4 May 2010
MUMBAI, May 3 (PTI): Housing lender HDFC Ltd Monday said its net profit jumped 26.31 per cent to Rs 9.26 billion for the January-March quarter on the back of fall in expenditure.
The company, which saw income from interest fall during the period under review, had posted a net profit of Rs 7.33 billion a year ago, HDFC said in a filing to the Bombay Stock Exchange.
Total income declined to Rs 28.99 billion for the quarter ended March 31, from Rs 31.54 billion of the corresponding period a year earlier.
The board has approved the subdivision of the company's shares in the ratio of 1:5, that is one share of Rs 10 will be slit into 5 shares of Rs 2 each -- which will make it the first stock split of HDFC shares in over one decade.
The company, which saw income from interest fall during the period under review, had posted a net profit of Rs 7.33 billion a year ago, HDFC said in a filing to the Bombay Stock Exchange.
Total income declined to Rs 28.99 billion for the quarter ended March 31, from Rs 31.54 billion of the corresponding period a year earlier.
The board has approved the subdivision of the company's shares in the ratio of 1:5, that is one share of Rs 10 will be slit into 5 shares of Rs 2 each -- which will make it the first stock split of HDFC shares in over one decade.