HUDCO reports 52% YoY rise in net profit at Rs 211 crore in Q1

Housing and Urban Development Corporation(HUDCO) on Monday reported 52 per cent year-on-year (YoY) rise in net profit at Rs 210.85 crore for the quarter ended June 30, 2017 against Rs 138.74 crore in the corresponding quarter last year.

Total revenue of the government-owned housing and infrastructure finance firm jumped 4.26 per cent YoY to Rs 929.08 crore during the quarter under review. It had reported total revenue of Rs 891.11 crore in the same period last year.

Profit before tax of the company stood at Rs 211.97 crore in Q1FY18 against Rs 204.43 crore in Q1FY17.

Shares of the company settled 0.96 per cent down at Rs 87.90 on Monday.

Percentage of gross non-performing assets jumped to 7.20 per cent in Q1FY18 from 6.02 per cent in the sequential quarter ended March 31, 2017. Net NPA stood almost increased to 1.98 per cent from 1.15 per cent during the same period.