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HUDCO shares extend gains after September quarter earnings

HUDCO shares extend gains after September quarter earnings

HUDCO shares extend gains after September quarter earnings
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By CNBCTV18.com Nov 16, 2022 4:15:54 PM IST (Published)

HUDCO reported a 7 percent rise year-on-year in net profit in Q2FY23 at Rs 396 crore compared to Rs 370.45 crore in the year-ago period. 

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Shares of Housing and Urban Development Corporation Ltd. (HUDCO) ended at a new 52-week high on Wednesday.


The company’s consolidated net profit rose by nearly 7 percent to Rs 396 crore in the September quarter compared to Rs 370.45 crore in the year-ago period.

The company’s total revenue from operations was flat at Rs 1,738.61 crore compared to last year.

Gross NPA declined by 28 basis points to 3.80 percent from 4.08 percent in the same period a year ago. Net NPAs rose marginally by 8 basis points to 0.60 percent from 0.52 percent in the year-ago quarter.

The company’s net interest margin (NIM) increased to 3.30 percent from 3.27 percent in the same period a year ago.

The stock ended trade at Rs 47.25, up nearly 14 percent. The stock had ended 2.4 percent higher on Tuesday as well. The stock is up 32 percent over the past month.
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