HUDCO’s net profit rises 52% YoY, at Rs. 211 crore in Q1

The government owned Housing and Urban Development Corporation (HUDCO) posted a net profit of Rs. 210.85 crore for the quarter ended June 30, 2017 against Rs. 138.74 crore in the corresponding quarter last year. This was 52% YoY rise in the net profit of the company. The total revenue jumped 4.26 per cent YoY to Rs. 929.08 crore during the quarter under review against 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. 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.