Housing Development Finance Corporation Limited (HDFC),
on Saturday, reported a 25 per cent rise in its consolidated net profit
at Rs.1,275.86 crore for the quarter ended June 30, 2012, against
Rs.1,020.06 crore in the corresponding quarter of the previous year.
. It had announced the standalone results on July 11 at the time of its annual meeting.
The
standalone net profit for the quarter under reference stood at
Rs.1,001.91 crore against Rs.844.53 crore in the year-ago period, an
increase of 19 per cent.
The profit earned in the
revenue account of HDFC Standard Life Insurance Company amounting to
Rs.92.41 crore (net of tax) as compared to Rs.53.40 crore, has not been
transferred to the shareholders’ profit and loss account as profits can
be transferred only after the accounts are audited and recommended by
the appointed actuary, as per IRDA guidelines.
The
consolidated net profit for the quarter ended June 30, 2012 does not
consider the charge in respect of the redemption premium on zero coupon
debentures amounting to Rs.148.93 crore (net of tax) as compared to
Rs.130.25 crore for the quarter ended June 30, 2011.
Considering
both these adjustments “the profit after tax for the quarter ended June
30, 2012, would have been Rs.1,193.81 crore against Rs.928.46 crore, an
increase of 29 per cent,” the release added.
